Half of Russiaʼs top oligarchs are still not sanctioned

Kostia Andreikovets

According to Bloomberg, half of Russiaʼs 20 richest people have not been sanctioned over its war in Ukraine, leaving a group of the super-rich, powerful billionaires free to operate around the world without legal restriction.

In total, tycoons worth a total of at least $200 billion before the war started have been hit by sanctions. At the same time, the UK and EU have sanctioned only the 10 richest Russians while the United States imposed sanctions on only four of them. Only three men feature on all three lists, with four of Russiaʼs five richest men not sanctioned anywhere.

Alexey Mordashov, Alisher Usmanov, Andrey Melnichenko, Viktor Vekselberg, Roman Abramovych, German Khan, and a bunch of other oligarchs are under sanctions now, while at least 10 Russian rich men have not experienced any large-scale restrictions.

Vladimir Potanin (Norilsk Nickel PJSCʼs largest shareholder), Leonid Mikhelson (“Novatek” gas company CEO), Vladimir Lisin (“Novolipetsk steel” Board Chair), Vagit Alekperov (chairman of oil giant Lukoil PJSC), Mikhail Prokhorov (founder of “Oneksim ” investment group), Dmitriy Rybolovlev (Cyprus Bank and “Monako” FC shareholder), Viacheslav Kantor (“Akron” chemical company owner), Leonid Fedun (“Lukoil” vice-president), Aleksandr Abramov (“Evras” co-founder) and Andrey Gusev (“Fosagro” chemical founder company) are not facing any sanctions.

Overall, the US has frozen the assets of 852 people, the European Union 775, and the UK 982. The treasury department of US officials informs that some businessmen have avoided sanctions as theyʼre not believed to be close to the Kremlinʼs decision-making.