Sanctions Against Oligarchs

Sanctions Imposed On Sergei Chemezov 2022

Sergey Viktorovich Chemezov Sanctions

Sergey Viktorovich Chemezov  [ Sergei Chemezov ] the current CEO of Rostec Corporation, a state-owned defense conglomerate, forged a close friendship with Vladimir Putin during their time together in East Germany in the 1980s. Chemezov, a former KGB agent and high-ranking general, saw his personal wealth increase significantly after Putin became President of Russia.

Sergei Chemezov has been sanctioned by US, UK, European Union, Japan, Ukraine, Canada, Japan, New Zealand and Australia.

Updated Early 2024

Rostec, a Russian state-owned defense company, increased the production of armored vehicles nearly fivefold in the year to November 2023, according to its chairman Sergei Chemezov. There have been similar vast increases in the production of munitions and drones.

“We boosted the production of munitions for firearms and MLRS [multi-launch rocket systems] by 50 times,” Chemezov told Putin at a Kremlin meeting in December 2023.

Around 80% of military equipment used by the Russian Armed Forces is currently being supplied by Rostec, according to Chemezov. He revealed that the production and refurbishment of Russian tanks has increased by 3.5 times since 2022, while the same processes have seen a three-fold rise for lightly armored vehicles. 

Rostec : chairman Sergei Chemezov
Rostec : chairman Sergei Chemezov

As for the manufacturing of self-propelled artillery pieces, Rostec is producing 10 times what it used to. The production of towed guns has witnessed a 14-fold rise since 2022. Artillery pieces are in high demand due to the nature of the conflict between Russia and Ukraine, which has heavily depended on unprecedented amounts of shelling and indirect methods of attack to secure areas of control and to set up offensive maneuvers. 

UK Sanctions Imposed On Sergei Chemezov in 2014

On 12 September 2014, the UK government imposed sanctions on Sergey Chemezov in relation to the Russo-Ukrainian War. These sanctions included travel bans and asset freezes against prominent individuals associated with Vladimir Putin’s inner circle, with Chemezov being one of them. He has been tagged as Group ID: 13115.

21 Mar 2023 , Financial sanctions imposed in addition to an asset freeze: Dealing with transferable securities or money-market instruments. Loans and credit arrangements

US Sanctions Imposed On Sergei Chemezov in 2014

On 28 April 2014 , the United States designated 7 more Russian individuals and 17 entities, citing Russia’s
failure to meet its commitments to de-escalate the situation in Ukraine. In total, the US has now
designated 45 individuals and 19 entities under sanctions authorised in response to events in Ukraine.
The designations were made pursuant to Executive Order 13661, which authorises the President to impose sanctions on Russian government officials and any individuals or entities that provide support to them.

The US Treasury announced that the seven individuals were designated because they are officials of the Russian government. However, two senior executives of state-owned companies, who do not appear to hold any positions in the Russian government, have also been designated. Igor Sechin is the President and Chairman of the Management Board of Rosneft, one of the world’s largest oil companies, and Sergei Chemezov is the Director General of Rostec, a state-owned holding company. The designation of an
individual who serves as a senior executive of a Russian company, absent other facts or factors, should not restrict the ability of US companies and individuals to transact with the Russian company in question.

On MARCH 03, 2022 ,the United States, in coordination with Allies and partners, is targeting additional Russian elites and family members who continue supporting President Putin despite his brutal invasion of Ukraine. These individuals have enriched themselves at the expense of the Russian people, and some have elevated their family members into high-ranking positions. Others sit atop Russia’s largest companies and are responsible for providing the resources necessary to support Putin’s invasion of Ukraine.

These individuals and their family members will be cut off from the U.S. financial system, their assets in the United States will be frozen and their property will be blocked from use. The Department of Treasury will share financial intelligence and other evidence where appropriate with the Department of Justice to support criminal prosecutions and seizure of assets.

EU Sanctions Imposed On Sergei Chemezov in 2022

The sanctions list by the European Union includes 47 individuals, including Moscow Mayor Sergei Sobyanin and Rostec head Sergei Chemezov, as well as eight legal entities.

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