Igor Sechin
Source: Wikimedia Commons

Igor Sechin Has Close Ties to Putin, Former Deputy Prime Minister Runs Rosneft

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Mar. 3 2022, Published 10:54 a.m. ET

Rosneft CEO Igor Sechin is a Russian oligarch with close ties to Vladimir Putin. Rosneft is Russia's largest oil company. Russia is the third-largest oil producer globally. Officials have seized a yacht that's owned by a company in which Sechin is the top shareholder. How much is Sechin’s net worth as the crisis in Ukraine continues?

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Igor Ivanovich Sechin

CEO, Chairman, and President of Rosneft

Net worth: $169 million

Igor Sechin is the former Deputy Prime Minister of Russia and a close ally to President Vladimir Putin. He serves as the chief executive, president, and chairman of Rosneft, the state oil company of Russia. Following Russia’s invasion of Ukraine, BP announced that it would give up its 20 percent stake in Rosneft. Sechin has been sanctioned by the European Union, and the French government seized a yacht linked to Sechin.

Birthdate: September 7, 1960

Spouses: Marina Sechina (div. 2011) and Olga Rozhkova (div. 2017)

Igor Sechin has a close relationship with Vladimir Putin.

Sechin has been a close ally and counselor to Russian President Vladimir Putin for years. From 1999 to 2008, he served as Deputy Prime Minister of Russia.

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CNBC reported that the EU sanctions document called Sechin one of Putin’s “most trusted and closest advisors, as well as his personal friend.” Now, in response to Russia’s Ukraine invasion, Sechin is on the list of individuals close to Putin who are subject to EU and U.S. sanctions. His son, Ivan Sechin is also under sanctions by the U.S.

Vladimir Putin and Igor Sechin
Source: Wikimedia Commons
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Igor Sechin has faced sanctions in the past.

Since 2012, Sechin has been the CEO of Rosneft, the state-owned Russian oil company with a $77.7 billion market value. Sechin was sanctioned by the U.S. in 2014 following Russia’s illegal annexation of the Crimea region.

Sechin is on the new list of Russian oligarchs subject to EU sanctions in response to Russia's invasion of Ukraine. Alisher Usmanov is also included on the sanctions list. German authorities may have seized his yacht, the Dilbar, near Hamburg.

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BP is among the companies cutting ties to Russia and plans to sell its 20 percent stake in Rosneft.

Igor Sechin’s net worth is unknown.

Sources have offered a range of estimates for Sechin’s net worth. As of 2015, Reuters reported that he earned an annual salary of up to $4.7 million as the top executive at Rosneft.

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Sechin's net worth has been estimated at $169 million all the way up to $2.5 billion, so a precise picture of his finances isn't available. However, his net worth will likely be impacted by the recent sanctions.

Sechin 2011
Source: Getty

Sechin in 2011 at the St. Petersburg International Economic Forum.

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Igor Sechin’s yacht was seized from a Mediterranean port.

On March 2, 2022, the yacht named Amore Velo was seized by French authorities at the La Ciotat shipyards. The seizure is related to the EU’s sanctions against Russia and oligarchs including Sechin.

Bruno le Maire, France’s finance minister, stated that the yacht was linked to an entity that's majority-owned by Sechin, reported The Guardian. The yacht attempted to leave French waters, which prompted the seizure.

CNBC reported that Rosneft Aero, a Rosneft subsidiary, delivers fuel for flights between Russia and annexed territories of Crimea and Sevastopol. EU sanctions explain this means that Sechin “is supporting the consolidation of the illegally annexed Crimean peninsula into the Russian Federation.”

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