Fortune of Putin’s people worth billions of dollars frozen
23:40
In its latest analysis, PIE reminds that the US and European Union sanctions imposed on Russia do not only apply to the Russian government but also include the property of those in power and oligarchs cooperating with the Kremlin. US sanctions applied to 446 people and the EU to 862 people. There are a total of 28 Russian billionaires on both lists, with assets worth $146.4 billion.
PIE calculations show that the EU and the US make life difficult for Russian oligarchs more or less equally. There are 16 names of billionaires on the EU list with a combined total of around $100 billion. There are 15 of them on the American list, and their assets are about $90 billion. Nevertheless, several names appear repeatedly on both lists, so estimates of Russia's total wealth under sanctions are lower.
PIE cites the most important figures from among the richest Russians on the sanctions lists. For example, the EU has sanctioned Andrei Melnichenko – the founder of the EuroChem Group chemical company and the SUEK coal company, as well as the owner of the majority stake in the Murmansk Commercial Sea Port.
Other famous names from the EU list are Mikhail Fridman – founder of one of Russia's largest private banks, Alfa-Bank – and Alisher Usmanov, co-owner of Metalloinvest, who runs the business of, among others, in the precious metals, iron, steel, and natural gas industries.
