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UK freezes assets of Roman Abramovich and 6 other oligarchs, banned from travel

Foreign Secretary Liz Truss vows to target people with 'blood of the Ukrainian people on their hands'

Source: Daily Mail

Roman Abramovich is among seven oligarchs to be hit with an asset freeze and travel bans under brutal new UK sanctions unveiled today.

The Foreign Office said the oligarchs have a collective net worth of around £15billion.

The government has announced that the owner of Chelsea FC will also be prohibited from transactions with UK individuals and businesses.

Mr. Abramovich’s one-time business partner, Oleg Deripaska, has also been hit with the same measures - as have Rosneft chief Igor Sechin and four more described as being in Putin’s 'inner circle'.

The Foreign Office said the Economic Crime Bill coming into force next week 'will allow UK Government to move further and faster than ever on sanctions'.

Boris Johnson said: 'There can be no safe havens for those who have supported Putin’s vicious assault on Ukraine.  Today’s sanctions are the latest step in the UK’s unwavering support for the Ukrainian people. We will be ruthless in pursuing those who enable the killing of civilians, destruction of hospitals and illegal occupation of sovereign allies.'

Ms. Truss said in a statement: 'Today’s sanctions show once again that oligarchs and kleptocrats have no place in our economy or society. With their close links to Putin, they are complicit in his aggression.  The blood of the Ukrainian people is on their hands. They should hang their heads in shame.  Our support for Ukraine will not waver. We will not stop in this mission to ramp up the pressure on the Putin regime and choke off funds to his brutal war machine.'

The Foreign Office said the oligarchs have a collective net worth of around £15billion.

Roman Abramovich is one of seven Russian oligarchs sanctioned by the UK Government today.

The Government estimates his wealth at more than £9billion and notes his stakes in steel giant Evraz, Norilsk Nickel and ownership of Chelsea FC.

'He is one of the few oligarchs from the 1990s to maintain prominence under Putin,' a Government spokesman said.

The other oligarchs sanctioned today are:

Oleg Deripaska: Estimated wealth of £2billion and a multi-million-pound Uk property portfolio. Subject to US sanctions since 2018. Has stakes in En+ Group, a major extractives and energy company that owns UC Rusal, one of the world’s major aluminum producers.

Igor Sechin: Chief Executive of Rosneft, the Russian state oil company. The Government said he is 'particularly close and influential ally of Putin'. Already sanctioned by the US and EU.

Andrey Kostin: Chairman of VTB Bank, the second-largest bank in Russia. A 'close associate of Putin' who has 'long supported Kremlin objectives through VTB Bank'. Net worth of £379 million. Already sanctioned by the US and EU.

Alexei Miller: Chief executive of energy company Gazprom. Served under Putin when autocrat was mayor of St Petersburg. Already sanctioned by the US.

Nikolai Tokarev: President of the Russian state-owned pipeline company Transneft. Former KGB agent who served alongside Putin in East Germany. Already sanctioned by the US and EU.

Dmitri Lebedev: Chairman of Bank Rossiya, which is 'widely considered to be the Kremlin’s private bank'. Sanctioned by the US in 2016.

Cyprus  |  UK  |  Russia  |  sanctions

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