President Joe Biden announces sanctions against a handful of elite Russian oligarchs as part of its package aimed at punishing Vladimir Putinthe invasion of Ukraine.
Russia’s elites, subject to a round of sanctions Thursday, are either from prominent families close to Putin himself or from influential leaders in the country’s financial sector, the administration said.
They will now be subject to “full blocking sanctions”, meaning they are cut off from the US financial system, all assets held in the United States are frozen and barred from entering the United States.
“This action includes people who have become rich at the expense of the Russian state and have raised their family members to one of the highest positions of power in the country.” the White House said in a statement.
“He also includes financial figures who lead Russia’s largest financial institutions and are responsible for providing the resources needed to support Putin’s invasion of Ukraine,” the statement added.
President Joe Biden announces sanctions against a handful of elite Russian oligarchs as part of his package of measures to punish the invasion of Ukraine
Putin himself has not yet targeted individual sanctions, and his wealth, whatever it is, is so well hidden that it is unclear whether sanctions would have any effect.
Putin himself has not yet focused on individual sanctions, a step that would be exceptional, but which Biden says remains “on the table.”
However, it is unclear whether individual sanctions against Putin himself would have any significant impact, as the Russian leader’s wealth remains a mystery and beyond the reach of US law enforcement.
Putin is said to have a personal fortune of hundreds of billions, probably making him the richest man in the world, but this has never been confirmed. Forbes he recently called it “the most elusive riddle in the hunt for wealth.”
Here are the Russians Biden named for individual sanctions:
Sergei Borisovich Ivanov and his son Sergei Sergeevich Ivanov
The finance ministry calls the Ivanovs a “close to Putin” family.
“Elites close to Putin continue to use their closeness to the Russian president to plunder the Russian state, enrich themselves and elevate their family members to one of the highest positions of power in the country at the expense of the Russian people.” the department said in a statement.
Sergei B. Ivanov is the Special Representative of the President of Russia for Environmental Protection, Ecology and Transport.
Sergei B. Ivanov is the Special Representative of the President of Russia for Environmental Protection, Ecology and Transport
His son Sergei S. Ivanov is the current CEO of the Russian state-owned diamond mining company Alrosa and a member of the board of Gazprombank.
He is reportedly one of Putin’s closest allies, having previously served as chief of staff to the president’s executive office, deputy prime minister and Russia’s defense minister.
He is also a permanent member of the Security Council of the Russian Federation.
Sergei B. Ivanov was close to Putin even before the Russian leader took power, working as his deputy when Putin headed the FSB, the security agency, the successor to the Soviet KGB.
Since Putin took office in 1999, the older Ivanov has held various state roles, including as Russia’s defense minister.
His son, Sergei S. Ivanov, is the current CEO of the Russian state-owned diamond mining company Alrosa and a member of Gazprombank’s board.
While the older Ivanov had previously been subject to US sanctions, the latest round has reassigned him and added his son.
Nikolai Platonovich Patrushev and his son Andrei Patrushev
Nikolai Patrushev is secretary of the Security Council of the Russian Federation and is reported to be a longtime close aide to Putin.
He succeeded Putin as director of the Russian FSB, heading the security agency from 1999 to 2008.
The finance ministry lists the Patrushev family as another “close to Putin” and said: “Many of these people are believed to be participating in or benefiting from the kleptocracy of the Russian regime, along with members of their families.”
Nikolai Patrushev is secretary of the Security Council of the Russian Federation and is reported to be a longtime close aide to Putin.
Patrushev’s son, Andrei Patrushev, has held senior positions at Gazprom Neft and is employed in Russia’s energy sector.
Patrushev’s son, Andrei Patrushev, has held senior positions at Gazprom Neft and is employed in Russia’s energy sector.
Andrei Patrushev was born in 1981 in Leningrad, according to a Gazprom biography.
From 2013 to 2015 he was Deputy Chief Executive Officer for Capital Construction of Gazprom Dobycha Shelf Yuzhno-Sakhalinsk LLC.
He has also served as a member of the Management Board, Deputy Chief Executive Officer for Offshore Projects Development of Gazprom Neft PJSC.
Igor Ivanovich Sechin and his son Ivan Igorevich Sechin
Igor Sechin is the Chief Executive Officer, Chairman of the Management Board and Deputy Chairman of the Board of Directors of Rosneft, one of the largest publicly traded oil companies in the world.
He previously served as Russia’s deputy prime minister from 2008 to 2012 and is reportedly a close ally of Putin.
Russian President Vladimir Putin walks with Rosneft CEO Igor Sechin while visiting the Konev Monastery on Konevets Island in Leningrad last year
Igor Sechin is Chief Executive Officer, Chairman of the Management Board and Deputy Chairman of the Board of Directors of the oil company Rosneft
He has had ties to Putin since 1994, when Putin was the first deputy mayor of St. Petersburg and Sechin was his chief of staff.
Since then, Sechin has followed Putin throughout his career, playing various roles in the Russian government.
His son Ivan Sechin was born in 1989 and graduated from the Lomonosov Business School at Moscow State University.
Ivan Sechin is believed to be working closely with his father at Rosneft, where he is reportedly deputy head of the department.
Andrei Sergeevich Puchkov, Yuri Alekseevich Solovyov and his wife Galina Olegovna Ulyutina
Andrei Sergeevich Puchkov (left) and Yuri Alekseevich Solovyov (right) are two high-ranking executives of VTB Bank who work closely with VTB Bank CEO Andrei Kostin, who was previously sanctioned
Puchkov and Soloviev are two high-ranking executives of VTB Bank, working closely with VTB Bank CEO Andrei Kostin, who was previously sanctioned.
Puchkov has other business interests outside of VTB, including Moscow-based real estate company Atlant S and limited liability company Inspira Invest A.
Soloviev’s wife, Galina Olegovna Ulyutina, was previously involved in a “golden passport” scheme, according to the finance ministry.
Alexander Alexandrovich Vedyahin
The finance ministry describes Vedyahin as an “elite of the financial sector.”
Alexander Vedyahin, First Deputy Chairman of the Executive Board of SberBank
“The top leaders of state-owned banks, such as Kremlin-linked elites, are taking advantage of their proximity to Russia’s power vertical to pursue the interests of the Russian state while maintaining an extravagant standard of living,” the ministry said in a statement.
Vedyahin is the first deputy chairman of the Executive Board of Sberbank.
He was born in 1977 in Volograd, and in the last decade has completed advanced courses at Stanford and MIT in the United States.