UK expands, specifies motives for sanctions against Russian businessman Potanin

20:45, 12.02.2024 1 min read

The United Kingdom's Office of Financial Sanctions Implementation has expanded the motives for the sanctions against Russian businessman Vladimir Potanin.

The UK imposed sanctions against Potanin in June 2022. The wording of the reasons for the restrictions against him has until now mentioned ownership of or control over Rosbank, which operates in Russia's financial sector, which is a strategic sector for the Russian government.

Besides Rosbank, the document now also mentions Potanin's holding Interros, and also Norilsk Nickel, where he holds a management post. A regards Rosbank, an adjustment was made: the document now says Potanin has the right, direct or indirect, to nominate at least one member of the lending organization's board.