New UK sanctions

A picture taken late on 04 December, 2017 shows Russian President Vladimir Putin (L) meeting with metals magnate Vladimir Potanin at the Novo-Ogaryovo state residence outside Moscow. Photo: Mikhail KLIMENTYEV / SPUTNIK / AFP

Russia’s second-richest man hit by new UK sanctions

Russia’s second-richest man Vladimir Potanin, who is also the co-owner of mining giant Norilsk Nickel, hit by new UK sanctions on Wednesday

New UK sanctions

A picture taken late on 04 December, 2017 shows Russian President Vladimir Putin (L) meeting with metals magnate Vladimir Potanin at the Novo-Ogaryovo state residence outside Moscow. Photo: Mikhail KLIMENTYEV / SPUTNIK / AFP

Britain on Wednesday announced a new round of sanctions linked to the war in Ukraine including against Vladimir Potanin, Russia’s second-richest man.

Potanin “continues to amass wealth” since President Vladimir Putin ordered the invasion, the UK government said.

French bank Societe Generale, joining other Western companies in exiting Russia, last month completed the sale of its Russian subsidiary Rosbank to an investment firm founded by Potanin.

Potanin is also the co-owner of Russian mining giant Norilsk Nickel. Forbes magazine lists him as the second-richest individual in Russia with a fortune estimated in 2021 at $27 billion (about R439 billion).

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new UK sanctions

Also sanctioned by Britain was Anna Tsivileva, a first cousin once removed to Putin who heads the Russian coal mining company JSC Kolmar Group.

“Today’s sanctions show that nothing and no one is off the table, including Putin’s inner circle,”

a UK government spokesperson said in a statement.

“As long as Putin continues his abhorrent assault on Ukraine, we will use sanctions to weaken the Russian war machine.”

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