Sanctions Against Oligarchs

Sanctions On Corrupt Yuri Valentinovich Kovalchuk 2014

Yuri Kovalchuk — Putin's banker and closest adviser

Yuri Valentinovich Kovalchuk [Yuri Kovalchuk] is a Russian billionaire businessman and financier. He is also known as Putin’s “personal banker”. Kovalchuk is a long-time acquaintance of President Putin and co-founder of the cooperative society Ozero Dacha. Yuri Kovalchuk is on the U.S. sanctions list.

Kovalchuk [ Yuri Kovalchuk ] is a long-time acquaintance of President Putin. He is a co-founder of the socalled Ozero Dacha, a cooperative society bringing together an influential group of individuals around President Putin. He is the chairman and largest shareholder of Bank Rossiya, of which he owned around 38% in 2013, and which is considered the personal bank of Senior Officials of the Russian Federation.

Sanctions On Yuri Valentinovich Kovalchuk
Sanctions On Yuri Valentinovich Kovalchuk

Since the illegal annexation of Crimea, Bank Rossiya has opened branches across Crimea and Sevastopol, thereby consolidating their integration into the Russian Federation. Furthermore, Bank Rossiya has important stakes in the National Media Group which in turn controls television stations which actively support the Russian government’s policies of destabilisation of Ukraine. The Panama Papers leak revealed that Kovalchuk had transferred at least $1 billion to an offshore entity.

US Sanctions On Yuri Valentinovich Kovalchuk

US Treasury on 03/11/2022 added Yuri Valentinovich Kovalchuk to OFAC’s list of Specially Designated Nationals.

KOVALCHUK, Yuri Valentinovich (a.k.a. KOVALCHUK, Yury Valentinovich); DOB 25 Jul 1951; POB Saint Petersburg, Russia (individual) [UKRAINE-EO13661]. -to- KOVALCHUK, Yuri Valentinovich (Cyrillic: КОВАЛЧУК, Юрий Валентинович) (a.k.a. KOVALCHUK, Yuriy Valentynovych (Cyrillic: КОВАЛЬЧУК, Юрій Валентинович); a.k.a. KOVALCHUK, Yury Valentinovich), Russia; DOB 25 Jul 1951; POB St. Petersburg, Russia; nationality Russia; Gender Male; Tax ID No. 780105029790 (Russia) (individual) [UKRAINE-EO13661] [RUSSIA-EO14024] (Linked To: AO ABR MANAGEMENT). 

UK Sanctions On Yuri Kovalchuk

The latest updated sanctions list of UK released on 15 Nov 2023 has Yuri Kovalchuk listed in it.

Name (non-Latin script): Юрий Валентинович Ковальчук
DOB: 25/07/1951. POB: Leningrad (St Petersburg), Russia a.k.a: (1) KOVALCHUK, Yuri, Valentinovich (2) KOVALCHUK, Yury, Valentinovich

Nationality: Russia Address: Russia.

Position: Major shareholder of Bank Rossiya and the National Media Group

Other Information: (UK Sanctions List Ref): RUS0007.

Financial sanctions imposed in addition to an asset freeze:Trust services.

Date trust services sanctions imposed: 21/03/2023.

(UK Statement of Reasons): Mr Kovalchuk is along-time acquaintance of President Putin and cofounder of theso called Ozero Dacha,a cooperative society bringing together an influential group of individuals around President Putin. This includes close association to other involved persons. As the chairman and largest share holder of Bank Rossiya, which is a key stakeholder in the National Media Group, Kovalchuk has actively supported actions which are undermining and threatening the territorial integrity,
sovereignty and independence of Ukraine. This includes National Media Group support of Russian policy which is destabilising Ukraine;

The formation of bank branches and provision of insurance and investment throughout Crimea and Sevastopol; and support to military activities and the formation of major transport links. Through these actions Kovalchuk is providing financial services and economic resources which are contributing to the destabilisation of Ukraine and undermining the territorial integrity of Ukraine, there by consolidating the integration of Crimea into the Russian Federation.

(Gender):Male Listed on: 31/07/2014 UK Sanctions List Date Designated: 31/12/2020

Last Updated: 21/03/2023 Group ID: 13075.

EU Sanctions On Yuriy Kovalchuk in 2014

In 2014 , EU added Yuri Kovalchuk for its involvement in fuelling the conflict in Ukraine.

EU sanctioned Yuri Kovalchuk ,another member of the St Petersburg network, who is part of an even more exclusive circle around Putin which goes by the modest title of the Ozero Dacha co-operative society, but which is in fact a group of billionaires closely bound to the Russian leader. Kovalchuk is known as the personal banker for the Kremlin leadership, because of his role as chairman and largest shareholder of Bank Rossiya. He is being blacklisted in particular because the bank has opened branches across Crimea. It also owns a large part of the National Media Group, a propaganda outlet supporting Moscow’s expansionist policies.

FAQs on Yuri Valentinovich Kovalchuk :

Who is Yuri Kovalchuk?

Yuri Valentinovich Kovalchuk [ Yuri Kovalchuk ] is a Russian billionaire businessman and banker who is reputed to be Vladimir Putin’s personal banker. He is the co-founder and chairman of Rossiya Bank, one of Russia’s largest private banks, and also has significant stakes in several other major Russian companies, including National Media Group, Sogaz insurance company, and Sibur, a major petrochemical company.

What is Yuri Kovalchuk’s net worth?

Yuri Kovalchuk’s net worth is estimated to be $1.3 billion, making him one of the richest people in Russia.

What are Yuri Kovalchuk’s business interests?

Yuri Kovalchuk’s primary business interests are in banking and finance, but he also has significant holdings in media, insurance, and energy. He is the chairman of Rossiya Bank, the largest shareholder of National Media Group, and a board member of Sogaz insurance company. He also has a stake in Sibur, Russia’s largest petrochemical company.

What are Yuri Kovalchuk’s ties to Vladimir Putin?

Yuri Kovalchuk is a close friend of Vladimir Putin. The two men met in the early 1990s and have been friends ever since. Kovalchuk is often seen as Putin’s personal banker, and he has played a key role in financing Putin’s political campaigns.

What are the allegations against Yuri Kovalchuk?

Yuri Valentinovich Kovalchuk [ Yuri Kovalchuk ] has been accused of using his close relationship with Vladimir Putin to enrich himself and his family. He has also been accused of being involved in money laundering and corruption. In 2014, the United States and the European Union sanctioned Kovalchuk for his role in the annexation of Crimea.

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