Potanin was once Russia’s deputy prime minister, but now the Putin friend and his family are on the US sanctions list. According to the Ministry of Finance, this will “further deepen Moscow’s isolation from global markets.” After all, the extremely rich oligarch is a leader in the banking and mining sectors.
The United States has imposed sanctions on Russian oligarch Vladimir Potanin and a number of Russian companies over Moscow’s war of aggression against Ukraine. This will further deepen Russia’s “isolation from global markets,” the US Treasury Department said. “This will further limit the ability of the Putin regime to fund its horrific war against Ukraine.” US Secretary of State Antony Blinken said the new sanctions are a “clear message” that the US is using the means at its disposal to urge Russia to end the war in Ukraine.
According to Forbes magazine, Potanin is the second richest man in Russia with a fortune of more than $26 billion (24 billion euros) and was once the country’s deputy prime minister. The 61-year-old has close ties to Russian President Vladimir Putin. Potanin is a co-owner of the Russian mining group Norilsk Nickel and, since this year, the owner of the bank Rosebank, which has now also been placed on the US sanctions list. The sanctions were not imposed on Norilsk Nickel, as Bloomberg journalist Annmarie Hordern points out. Because the company plays a role in keeping the metal market stable.
A total of 18 companies and more than 40 people were put on the sanctions list, including Potanin’s wife and children, a number of Russian governors and Russian-appointed officials in occupied territories in eastern Ukraine, according to the US Treasury and State Departments. Any assets of those affected in the United States will be frozen, and US citizens will be prohibited from doing business with them.
The West has imposed a series of harsh sanctions on Russia since Russia’s war of aggression against Ukraine began in February. These have severely damaged the Russian economy, but have not been able to persuade Putin to give in.
