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US imposes sanctions on four Russian tycoons behind Alfa-Bank

US imposes sanctions on four Russian tycoons behind Alfa-Bank

The US Department of the Treasury has imposed new sanctions on four Russian businessmen – Petr Aven, Mikhail Fridman, German Khan, and Alexey Kuzmichev tied to the Alfa Group Consortium, one of the largest financial and investment conglomerates in Russia.

Previously, four tycoons were sanctioned by Australia, Canada, the European Union, New Zealand, and the United Kingdom.

“Wealthy Russian elites should disabuse themselves of the notion that they can operate business as usual while the Kremlin wages war against the Ukrainian people. Our international coalition will continue to hold accountable those enabling the unjustified and unprovoked invasion of Ukraine,” said Deputy Secretary of the Treasury Wally Adeyemo.

In addition, the US targeted the Russian Association of Employers the Russian Union of Industrialists and Entrepreneurs involved in the technology sector of Russia. The organization has coordinating councils that promote import substitution, technology independence, and technology development. “It has also been involved in activities related to Russia’s responses to sanctions imposed on Putin’s regime since Russia’s full-scale invasion of Ukraine,” the US Treasury Department.

The restrictions include a ban on property in the US and interests in the property of the sanctioned businessmen. In addition, any entities that are owned, directly or indirectly by them are also blocked.

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