Russia’s president is aggressive, the West reacts and freezes the assets of Russian oligarchs. Who are the Putin confidants who are now to be punished? An overview.
Putin escalates the situation in the Ukraine conflict and recognizes the eastern Ukrainian separatist areas of Donetsk and Luhansk. The USA, the EU, Great Britain and other countries are reacting with sanctions. They hit several areas – including not only banks and companies, but also Russian elites and families who support Putin’s power apparatus.
But who exactly are they targeting? Among the people on the new sanctions lists are a Russian-Finnish oligarch with an underground tennis court in Switzerland, a judo friend of Putin’s and the son of the Russian secret service chief.
One is quoted as saying, “You have to pay for everything in your life. Even your friendship with the President.” An overview:
European Union sanctions
The European Union put new sanctions against Russia into effect on Wednesday. The EU sanctions package envisages putting the 351 members of the Russian parliament on the EU sanctions list, who initiated the recognition of the self-proclaimed “people’s republics” of Luhansk and Donetsk in eastern Ukraine. In addition, there are 27 individuals and organizations who contribute to undermining the territorial integrity, sovereignty and independence of Ukraine.
► Those affected include including the Russian Defense Minister Sergei SchoiguEconomy Minister Maxim Reschetnikow and Vice Prime Minister Dmitri Grigorenko, according to the Official Journal of the European Union published on Thursday night. Also the spokeswoman for the Ministry of Foreign Affairs Maria Sakharovathe editor-in-chief of state broadcaster RT, Margarita Simonjanthe head of the presidential administration Anton Wajno as well as the well-known Kremlin propagandist Vladimir Solovyov are on the sanctions list.
► Also a so-called Internet Research Agency based in St. Petersburg, which is known as a pro-Kremlin troll factory and spreads disinformation is mentioned. Likewise are high-ranking military and businessmen part of the list. Added to that Russian state bank Promsvyazbank, the Bank Russia and the Financial Development Institute Veb.rf.
This approach by the EU is not new. Since the annexation of Crimea in 2014, the EU has imposed sanctions on Russia several times, but President Putin has not been impressed. So far, entry bans and bank accounts have been blocked against 185 Russians and Ukrainians and 48 companies and organizations. Economic sanctions are also aimed at Russian state banks and the oil and gas industry.
US sanctions
Washington is expanding its sanctions list to include a group of Putin supporters and their families.
► Peter Fradkow
Among them is Peter Fradkov, the son of former Russian Prime Minister and former head of the foreign intelligence service SVR, Mikhail Fradkov. The father has been sanctioned by the United States since April 2018 in response to “malicious activity worldwide” by Russia, according to the US Treasury Department at the time.
Peter Fradkov in the Kremlin (archive): The PSB CEO has met with the Russian President several times. (Source: Aleksey Nikolskyi/Kremlin Pool/Planet Pix/Zuma/imago images)
So now the son: Peter Fradkov himself is the chairman of the bank “Promsvyazbank” (PSB). According to the US Department, since 2018 Fradkow has been working to transform the bank to serve the defense industry and support state defense contracts. In international discussion rounds he made clear his longer-term plans to support the Russian defense industry.
Fradkow is also director of the “Russian Export Center”, a financial institution that is also affected by sanctions as part of VEB-Bank.
► Alexander Vasilyevich Bortnikov and his son Denis
Also affected by sanctions is Alexander Wassiljewitsch Bortnikov, head of the Russian secret service FSB – a long-time acquaintance of Putin: Both are said to have worked together for the KGB around 50 years ago.
The member of the Security Council of the Russian Federation has previously been subject to punitive measures from the USA and the EU, among other things because he is said to be connected to the poisoning of Navalny.
Alexander Vasilyevich Bortnikov at a meeting of the Russian Security Council: his son is now also subject to US sanctions. (Source: Aleksey Nikolskyi/Kremlin Pool/Zuma/imago images)
And his son is also included on the list: Denis Bortnikov is deputy president of the state VTB bank.
► Sergey Kiryenko and his son Vladimir
In the current crisis, too, sanctions are being imposed on Sergey Kiryenko, Putin’s first deputy chief of staff. The former Russian prime minister is already on the US, EU and UK sanctions lists, partly because he too is said to be connected to the poisoning of Russian opposition figure Alexei Navalny.
Sergey Kiryenko (archive): His son, managing director of the Russian version of Facebook “VKontakte”, is now also being sanctioned. (Source: Itar-Tass/imago images)
Kiryenko has a long friendship with Putin: in July 1998, when he was still Prime Minister, he is said to have introduced Vladimir Putin to the Russian people as the new head of the Federal Security Service – at that time still completely unknown. Since then, the two are said to be close.
His son, Vladimir Kiryenko, is the CEO of the successful internet company VK – the parent company of the Russian version of Facebook VKontakte.
UK sanctions
Great Britain also has Russian businessmen in its sights. Prime Minister Boris Johnson announced on Tuesday that he would impose sanctions on three extremely wealthy Russian citizens in addition to sanctions on five Russian banks. All three are considered close allies of Putin – and have become rich in his wake.
Your assets will be frozen. They will also no longer be able to enter the country or do business with British citizens or institutions, Johnson said.
► Gennady Timchenko
The Russian-Finnish oligarch lives in Switzerland – his villa on Lake Geneva is said to have cost 18 million francs and has an underground tennis court. Timchenko, who holds stakes in various Russian companies, is said to also own a private fleet of planes and several hotels in France. He is the founder of the private investment group “Volga Group”, which focuses on energy, transport and infrastructure assets.
The screen of a video conference in Putin’s office (archive): Gennady Timchenko can be seen in the middle. (Source: Alexei Druzhinin/Russian Presidential Press and Information Office/TASS/imago images)
Timchenko is said to have close ties to the Russian President. He is said to meet with Putin privately for ice hockey, among other things. The business magazine “Forbes” quotes him with the following sentence: “You have to pay for everything in your life. Even your friendship with the President.”
Vladimir Putin greets the founder of the Volga group, Gennady Timchenko (archive): “You have to pay for everything in your life. Even for your friendship with the President.” (Source: Aleksey Nikolskyi/Zuma Wire/imago images)
According to the magazine, Timchenko sold his stake in trading company Gunvor to his partner Torbjörn Törnqvist in 2014, a day before he was hit with US sanctions.
► Boris Rotenberg and his nephew Igor
Boris and Igor Rotenberg are brother and son, respectively, of Arkady Rotenberg – a close friend of Putin. The Rotenberg brothers were hit by US sanctions in 2014 because of their close ties to Putin, according to Forbes.
Boris and Arkady Rotenberg are said to have known Putin since they were children and trained in judo with the current Russian President. At least that’s what Arkadi Rotenberg told the Russian daily newspaper “Kommersant” in 2010.
Arkady Rotenberg and Vladimir Putin (archive): Britain will now impose sanctions on Rotenberg’s brother and nephew. (Source: Mikhail Metzel/TASS/imago images)
Boris Rotenberg founded the Russian SMP bank and the Russian motorsport management “SMP Racing”. Among other things, Igor Rotenberg holds shares in the drilling company “Gazprom Bureniye”.
Criticism of British sanctions: “a joke”
According to one expert, however, the sanctions imposed by the British government are not effective. The three Putin allies targeted by the British government are little active in the UK, said Elisabeth Schimpfössl, who researches the influence of wealthy Russians in the UK at the London School of Economics. “It’s a joke. It signals the oligarchs here that nothing is happening and that the lobbying of the past few days has been successful,” Schimpfössl said in an interview with the German Press Agency.
Sanctioned by Great Britain: According to one scientist, however, Boris Rotenberg is not very active in Great Britain. (Source: Sergei Savostyanov/TASS/imago images)
The activities of the Russian super-rich in London and other parts of Britain have long been a concern of parliamentarians, journalists and pundits. The business relationships of the oligarchs reach into the highest circles of politics and society.
