March 14, 2022

UK sanctions seven oligarchs closest to Russian President Vladimir Putin

On March 10, 2022, the UK’s Foreign Secretary Liz Truss announced additional sanctions that include full asset freezes and travel bans on seven oligarchs considered to be the wealthiest and most influential in Russia with close connections to the Kremlin.  Roman Abramovich, owner of Chelsea FC and his one-time business partner Oleg Deripask are among the seven who were sanctioned.  Truss indicated that these sanctions were issued in an effort to isolate Russian President Vladimir Putin and those in his inner circle by freezing assets and banning travel by seven oligarchs with a collective net worth of approximately £15 billion.  Prime Minister Boris Johnson stated that these sanctions demonstrate the UK’s unwavering support for the people of Ukraine and reiterated that the UK “will be ruthless in pursuing those who enable the killing of civilians, destruction of hospitals and illegal occupation of sovereign allies.”  

UK Foreign Secretary Press Release | OFSI Financial Sanctions Notice