UK sanctions four Russian steel and petrochemical tycoons
Britain has sanctioned four owners of Russian steel and petrochemical companies, including former steel producer chief Evraz, the government said on Wednesday, its latest action against Moscow over the war in Ukraine.
Among those sanctioned are Alexander Abramov and Alexander Frolov, whom Britain has described as known associates of oligarch Roman Abramovich, himself sanctioned earlier this year. Abramov has an estimated net worth of 4.1 billion pounds ($4.7 billion) and Frolov at 1.7 billion pounds, according to the Foreign Office statement. They have been targeted for their involvement in the mining, transport and construction sectors, he added.
Frolov is the former managing director of Evraz, which was also sanctioned by Britain for operating in sectors “of strategic importance to the Russian government”. “Today we are sanctioning four more oligarchs who lean on Putin for their positions of authority and in turn fund his military machine,” Foreign Secretary James Cleverly said.
“By targeting these individuals, we are increasing economic pressure on (Russian President Vladimir) Putin and we will continue to do so until Ukraine wins.” The sanctions implemented include travel bans, asset freezes and transportation sanctions, the foreign ministry said.
The British government, which has been led by three prime ministers this year, has been consistent in its stance on the war, having imposed sanctions on hundreds of Russian individuals and entities since Moscow sent troops to Ukraine on February 24. During a call with Ukrainian President Volodymyr Zelenskiy after he took office last week, Prime Minister Rishi Sunak promised him that the country’s support for Ukraine would be unwavering and “as strong as ever under his tenure as Prime Minister”. minister”.
The government said it had also sanctioned Airat Shaimiev, who has an estimated net worth of 902 million pounds, and Albert Shigabutdinov, with an estimated net worth of 977 million pounds. Shigabutdinov controlled about 96% of chemical and petrochemical processing in Russia’s Tatarstan region, including crude oil production, the statement said. ($1 = 0.8693 pounds)
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