EU Proposes Sanctions Aimed At Russia’s Wealthiest Tycoons

Sanctions under discussion by the European Union would hit some of Russia’s wealthiest tycoons, along with top officials in state companies and the media, in an escalation of penalties against the invasion of Ukraine, according to documents seen by Bloomberg.

While European governments will still need to approve the list, which could still change before they take effect, a handful of billionaires are on the radar who avoided US sanctions – including metals tycoon Alisher Usmanov, Alfa Group owners Mikhail Fridman and Petr Aven, plus Alexei Mordashov, who controls a major steel company.

Putin spox Dmitry Peskov and state-media figures accused by the EU of spreading disinformation are also on the list, as is cellist and longtime Putin friend Sergei Roldugin.

The EU is also looking to include executives at top state companies, as well as military and security officials, many of whom have already been sanctioned by the U.S. in recent years. The proposed list includes Igor Sechin, chief executive officer of oil company Rosneft, and Nikolay Tokarev, CEO of oil company Transneft. -Bloomberg

According to EU diplomat Josep Borrell, “we have agreed to increase the peoples and entities that are going to be subject to restrictive measures, the full list will be finished” at a EU ambassador meeting.

“This includes Russian oligarchs and businessmen whose listing carries huge economic impact and political figures who hold key role in the Putin system in Russia,” he added.

Bloomberg notes that while the US isn’t announcing any further sanctions at this time, ‘no Russian oligarch or family members are safe.’

On Saturday, Western allies agreed to block “selected” Russian banks from the SWIFT payments system, and impose restrictions on the Russian central bank – a move which was coordinated with the United States and the UK.

The EU also announced on Sunday that the bloc would ban Russian state-backed media outlets, Sputnik and RT, and block Russian aircraft from its airspace.