Sanctions Against Oligarchs

Complete Sanctions On Alexei Mordashov 2022

Who Is Alexey Mordashov ?

Sanctions On Alexei Mordashov are imposed by Canada, United States, United Kingdom , European Union, Monaco, Switzerland, Australia and Japan in response to the Russian invasion of Ukraine.

Alexey ( Alexei Mordaschov) is benefiting from his links with Russian decision-makers. He is chairman of the company Severgroup. This company is a shareholder of Bank Rossiya, of which he owned around 5,4% in 2017 and which is considered the personal bank of Senior Officials of the Russian Federation.

Since the illegal annexation of Crimea, Bank Rossiya has opened branches across Crimea and Sevastopol, thereby consolidating their integration into the Russian Federation. Furthermore, Severgroup has considerable stakes in the National Media Group which in turn controls television stations which actively support the Russian government’s policies of destabilisation of Ukraine.

Additionally, Severgroup is owner of the company JSC Power machines which is responsible for selling four wind turbines to the occupied Crimean peninsula.

US Sanctions On Alexei Mordashov AKA Alexey Mordashov

On June 2, 2022 ,actions were taken pursuant to Executive Orders (E.O.) 14024, E.O. 13685, and E.O. 13661, and further align the United States with its international partners and allies. Today’s designations were taken in tandem with the U.S. Department of State and the U.S. Department of Commerce. The U.S. Department of State imposed sanctions on five of Russia’s oligarchs and elites, including Maria Zakharova, the spokesperson of the Russian Ministry of Foreign Affairs; Alexey Mordashov ( Alexei Mordashov ) , the leader of Severgroup and one of Russia’s wealthiest billionaires; and family members and entities associated with the oligarchs and elites.

UK Sanctions On Alexei Mordashov AKA Alexey Mordashov

On 15 March 2022, Foreign Secretary Liz Truss announced over 370 more Russian and Belarussian sanctions.

Alexei Mordashov AKA Alexey Mordashov, a member of who are reported to be Russia’s richest family. Mordashov’s net worth is reported as an estimated £22.4 billion. He is a majority shareholder in steel company Severstal.

Asset freeze

An asset freeze prevents any UK citizen, or any business in the UK, from dealing with any funds or economic resources which are owned, held or controlled by the designated person and which are held in the UK. It will also prevent funds or economic resources being provided to or for the benefit of the designated person.

Travel ban

A travel ban means that the designated person must be refused leave to enter or to remain in the United Kingdom, providing the individual to be an excluded person under section 8B of the Immigration Act 1971.

Canada Sanctions On Alexei Mordashov AKA Alexey Mordashov

On February 23, 2023 ,Canada imposed sanctions against 7 senior managers at companies involved in Russia’s defence industry, including the production of tanks, missiles and weapons systems that Russia is using in Ukraine.

  1. Alexei Alexandrovich MORDASHOV (born September 26, 1965)
  2. Marina Alexandrovna MORDASHOVA (born in 1980)
  3. Ilya Alekseevich MORDASHOV (born on January 15, 1986)
  4. Kirill Alekseevich MORDASHOV (born in September 1999)
  5. Nikita Alekseevich MORDASHOV (born on December 16, 2000)
  6. Mikhail Feliksovich SHEBAKPOLSKIY (born on August 5, 1958)
  7. Sergey Nikolayevich ARTEMYEV (born on August 9, 1982)

EU Sanctions On Alexey Mordashov

Alexey Mordashov was targeted by EU sanctions on February 28, 2022, in response to Russia’s invasion of Ukraine. The sanctions were part of a broader set of measures imposed by the EU following the invasion. The EU sanctions targeted key individuals and entities involved in the conflict, including oligarchs like Mordashov.

On 2 March 2022, After EU imposed sanctions on shareholder Alexey Mordashov , he resigned from TUI SUPERVISORY BOARD.

As part of the EU sanctions, Mordashov’s equity in the company will be frozen, and he loses any right to shareholder dividends. He has no access to his shares, and can’t reap any further benefit from TUI’s business.

However, with his shares frozen, Mordashov remains a 34 percent shareholder of TUI Group.

Mordashov, who’s been an investor in TUI since 2007 and served on its supervisory board since 2016, controlled a 34 percent stake in TUI with the accompanying voting power.

PwC Cyprus helped Alexey Mordashov move $1.2 billion Despite Sanctions

Accountancy firm PwC, helped Alexey Mordashov to transfer hundreds of millions in assets as sanctions by the European Union (EU) loomed after the Russian invasion of Ukraine.

PwC Cyprus helped Alexey Mordashov
PwC Cyprus helped Alexey Mordashov

Alexei Mordashov’s case is among several uncovered in a document leak being called Cyprus Confidential, said a report by the Guardian.

According to the Guardian, the files contain emails of PwC Cyprus staff discussing transfers of about a third of the shares in Tui, Europe’s largest travel company, to Mordashov’s life partner. 

It is also reported that PwC Cyprus and other advisers helped one of Russia’s most powerful oligarchs attempt to transfer $1.2 billion in a public company on the day he was placed under EU sanctions.

FAQs about Alexey Mordashov :

Who is Alexey Mordashov?

Alexey is a Russian billionaire businessman who is the main shareholder and chairman of Severstal, Russia’s largest steel and mining company. He is also the majority shareholder in Nordgold, a gold mining company, and Power Machines, an energy equipment manufacturer. Mordashov is a controversial figure who has been accused of corruption and money laundering. He is also a close associate of Vladimir Putin, the President of Russia.

What is Alexey Mordashov’s net worth?

As of 2021, Alexey Mordashov’s net worth is estimated to be $29.1 billion. This makes him the richest man in Russia.

What is Alexey Mordashov’s background?

Alexey was born in Cherepovets, Russia, in 1965. He graduated from the Leningrad Engineering and Economic Institute in 1988 with a degree in economics. After graduation, he worked as an economist for the Cherepovets Steel Mill. In 1992, he became the company’s financial director.

What is Alexey Mordashov’s involvement in the steel industry?

Alexey Mordashov played a key role in the privatization of the Cherepovets Steel Mill in the early 1990s. He became the company’s CEO in 1996 and chairman of the board of directors in 2002. Under Mordashov’s leadership, Severstal has become one of the largest steel companies in the world.

What is Alexey Mordashov’s relationship with Vladimir Putin?

Alexey Mordashov is a close associate of Vladimir Putin. The two men met in the early 1990s and have been friends ever since. Putin has reportedly relied on Mordashov’s financial advice.

What are Alexey Mordashov’s political views?

Alexey Mordashov is a supporter of Vladimir Putin and his government. He has praised Putin’s economic policies and has said that he supports Russia’s annexation of Crimea.

What is Alexey Mordashov’s reputation?

Alexey Mordashov is a controversial figure. He has been accused of corruption and money laundering. He is also a close associate of Vladimir Putin, which has led to accusations that he is part of Russia’s elite.

What is Alexey Mordashov’s role in the war in Ukraine?

Alexei Mordashov has been sanctioned by the European Union and the United States for his role in the war in Ukraine. The sanctions have frozen his assets and banned him from traveling to the EU and the US.

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