In response to an unprovoked war led by Russia, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the U.S. Department of State issued sanctions against Russian oligarchs. The sanctions are designed to restrict access to wealth, which is being used to “provide direct and indirect support to the Government of the Russian Federation (GoR).”
Since the start of the Russian-Ukraine war, the list of sanctioned Russian oligarchs has grown. Keep reading to find out who’s on it.
Sanctions have been issued against these Russian oligarchs and their assets.
After coordinating with countries like the EU, the U.K., and Japan to name a few, sanctions have been issued against the following Russian oligarchs.
Alisher Burhanovich Usmanov
Recognized as one of Russia’s wealthiest oligarchs, Alisher Usmanov has been sanctioned by the U.S. and U.K. governments. Usmanov owns roughly 49 percent of holding company USM among others and is said to have financial ties with Russian President Vladimir Putin.
Through Usmanov's ties with the Kremlin, he's able to lead a “luxurious lifestyle,” according to the U.S. Department of the Treasury. According to Forbes, Usmanov has an estimated net worth of $16 billion and owns one of the world’s largest superyachts — Dilbar, which is worth between “$600 and $735 million.”
Nikolay Petrovich Tokarev
Nikolay Petrovich Tokarev is the president of Transneft, a pipeline used to transport “90 percent of oil extracted in Russia.” Tokarev has a close relationship with Putin and the two served together in the Soviet Union’s Committee for State Security (KGB).
In addition to Tokarev, his wife, Galina Alekseyevna Tokareva, and daughter, Maiya Nikolaevna Tokareva have also been sanctioned by the U.S., Canada, and the EU since they have benefited from Tokarev’s fortune. Although Tokarev’s net worth hasn’t been disclosed, Transneft had a market cap of $13.9 billion in 2021, reports Forbes.
Yevgeniy Prigozhin serves as the Russian financier of the Internet Research Agency (IRA). While Prigozhin was sanctioned in the past “for facilitating attempts to interfere in U.S. elections and supporting the GoR,” he has become the subject of sanctions recently issued by the U.S., the EU, Canada, the U.K., and Australia.
The Russian oligarch is being sanctioned for supporting the Russian government’s operations with Ukraine among other things. His wife, Lyubov Prigozhina, daughter, Polina Prigozhina, and son Pavel Prigozhin have also been named in sanctions issued by the U.S., the EU, and Canada.
While we don’t know what Prigozhin’s net worth is (we do know he’s a billionaire), we’ve learned that he has acquired many assets including a private jet and 115-foot yacht.
Roman Abramovich has become the focus of Britain’s sanctions. Recently, Britain froze the Russian elite’s assets, which could interfere with his ability to sell the Chelsea Football Club, a London-based soccer club he put up for auction, reports The New York Times.
In addition to owning Chelsea FC, Abramovich is best known for his investments in Evraz and Norilsk Nickel. To date, he has a net worth of $12.3 billion, reports Forbes, and is the owner of the world’s second-largest yacht–a 553-foot vessel worth roughly $400 million.
Alexei Mordashov, who's considered to be Russia’s wealthiest oligarch, has also been subjected to sanctions issued by the EU. The sanctions drove Mordashov to step down as director of Norgold and pass “control of a $1.1 billion stake in Norgold to his wife,” reports Business Insider.
Mordashov, also the largest shareholder of Severstal, has an estimated net worth of $19.4 billion.
As the U.S. and its allies uncover more Russian elites who are connected to Putin or support the Russian economy, you can expect to see them placed on the sanctions list. According to Secretary of the Treasury Janet Yellen, “Treasury is committed to holding Russian elites to account for their support of President Putin’s war of choice.”