Uk Sanctions Russia’s 2Nd Richest Individual Vladimir Potanin, Worth £13 Billion

The UK Government has imposed sanctions on Russia’s second-richest person, Vladimir Potanin, in response to the invasion of Ukraine.

Additionally, sanctions have been placed on Anna Tsivileva, President of the coal mining company JSC Kolmar Group, and Sergey Tsivilev, Governor of the coal-rich Kemerovo region and husband of Anna Tsivileva, who is a first cousin of Vladimir Putin.

The Foreign Office stated that the Tsivilev couple have greatly benefitted from their association with Putin. As for Potanin, who has an estimated net worth of £13 billion, he is accused of amassing wealth by supporting Putin’s regime, including acquiring Rosbank and shares in Tinkoff Bank following Russia’s invasion of Ukraine.

A Government spokesperson emphasized the use of sanctions to weaken the Russian war machine as long as Putin continues the assault on Ukraine.

Forbes reported that Potanin stepped down from the board of the Guggenheim Museum foundation after Russia’s attack on Ukraine and in May 2021, the British Court of Appeal overturned a lower court decision, allowing Potanin’s ex-wife Natalia to bring her $6 billion divorce claim in London.

In addition, the Foreign Office declared that Russian car production has decreased by 60% due to the sanctions and Russia’s Transport Minister has acknowledged that the country’s logistical infrastructure is now “broken” as a result of the sanctions.