On the 29 June 2022, the UK government announced new sanctions against Russia targeting thirteen new individuals and entities, including Russia’s second richest man, Vladimir Potanin.
Vladimir Potanin is reported to have an estimated net worth of £13bn and is the owner of major conglomerate Interros. He is also the chief executive and biggest shareholder in Norilsk Nickel, which is the largest supplier of nickel and palladium in the world. Norilsk is crucial to the supply of palladium for catalytic converters in cars and supplies of nickel for electric batteries. Potanin has also acquired Rosbank and shares in Tinkoff Bank in the period since the start of Russia’s invasion of Ukraine.
Putin’s first cousin once removed, Anna Tsivileva, who is President of Russian coal mining company JSC Kolmar Group, has also been sanctioned. Below is a list of the other individuals and entities that have been sanctioned under the new package:
The UK government press release can be found here: UK sanctions Russia’s second richest man - GOV.UK (www.gov.uk)
The financial notice can be found here: Notice_Russia_290622.pdf (publishing.service.gov.uk)