Sanctions Against Oligarchs

Leonid Mikhelson Got Sanctions Caused Global Condemnation

Leonid Mikhelson, a Russian-Israeli billionaire, is the CEO, chairman, and major shareholder of Russian gas company Novatek. After the collapse of the Soviet Union, he obtained a stake in a privatized pipeline construction company, forming Novatek. Mikhelson is a business partner of Gennady Timchenko, a close confidante of Russian leader Vladimir Putin. As of August 2022, he has a net worth of $28.8 billion, ranking him 44th globally and second in Russia.

EU has imposed sanctions on Mr. Mikhelson for his alleged involvement in the annexation of Crimea

EU has imposed sanctions
EU has imposed sanctions

By placing sanctions on Mr. Mikhelson, the European Union has taken firm action, citing his purported involvement in the Russian Federation’s annexation of Crimea and Sevastopol. This action demonstrates the EU’s resolve to respecting international law, denouncing acts that compromise national sovereignty, and taking decisive action in the face of geopolitical crises.

Global condemnation of the 2014 annexation of Crimea resulted in the imposition of Penalty by numerous nations on those thought to have been involved in the events. The Penalty is imposed by the EU on Mr. Mikhelson are part of a concerted attempt to hold people accountable who are thought to be causing the region’s instability.

Sanctions are a powerful diplomatic tool, often encompassing measures such as asset freezes, travel bans, and restrictions on business dealings. In the case of Mr. Mikhelson, these punitive actions signify the EU’s determination to address the serious allegations against him and send a strong message against actions that undermine international norms.

The situation is made more complex by the geopolitical significance of Crimea, as the international community tries to react forcefully to actions that violate long-standing norms of sovereignty and territorial integrity. The European Union’s decision to impose Penalty on Mr. Mikhelson is consistent with the larger global endeavor to preserve stability, protect democratic principles, and discourage actions that are considered detrimental to international peace and security. The application of Penalty is still a crucial tactic used by the international community in reaction to situations that pose a threat to the status quo as long as diplomatic tensions continue.

UK imposed Global Anti-Corruption Sanction Regulations

Anti-Corruption Sanction Regulations
Anti-Corruption Sanction Regulations

By placing sanctions on Mr. Mikhelson in accordance with the Global Anti-Corruption Sanctions Regulations in 2021, the United Kingdom made a major contribution to international anti-corruption efforts. This action demonstrates the UK’s commitment to fighting corruption on a global scale and holding people accountable for their alleged involvement in corrupt activities.

In an effort to stop financial misconduct and advance transparency, the UK government is able to target those who engage in corruption and other wrongdoings thanks to the Global Anti-Corruption Sanctions Regulations. By imposing these penalties on Mr. Mikhelson, the UK makes it abundantly evident that it is committed to the worldwide war on corruption.

The UK has imposed Penalty on Mr. Mikhelson, a UK official, as part of its international efforts to combat corruption and promote ethical standards. These Penalty include asset freezes, travel bans, and financial restrictions, aiming to protect justice, fairness, and transparency globally.

Reason of imposing Sanctions

 Leonid Mikhelson
Leonid Mikhelson

The individual engages in commercial activities in economic sectors, generating significant revenue for Russia, which initiated a war in Ukraine and committed the genocide of Ukrainian civilians, thus supporting actions that threaten Ukraine’s territorial integrity and sovereignty.

Details of Sanctions on Leonid Mikhelson

DatePlace of Sanctions
04.06.2022United Kingdom
12.10.2022New Zealand


The European Union (EU) and the United Kingdom have imposed sanctions on billionaire Russian-Israeli Leonid Viktorovich Mikhelson due to his purported involvement in the annexation of Crimea and Sevastopol. The EU’s sanctions are a part of a global campaign to hold people accountable for the instability in the region. In line with the Global Anti-Corruption Sanctions Regulations of 2021, the UK has also enforced sanctions, indicating its resolve to combat corruption and hold people responsible for their purported involvement in corrupt practices. To safeguard justice, equity, and transparency throughout the world, the UK has imposed financial restrictions, travel bans, and asset freezes. Mikhelson’s business ventures bring in a substantial amount of money for Russia.

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