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The EU wants to add high-profile Russian executives to the sanctions list

The EU will on Wednesday discuss adding Herman Gref, the head of Russia’s Sberbank, and aluminum oligarch Oleg Deripaska to its sanctions list as it seeks to tighten the screw on Russian companies after invading Ukraine.

Alexander Shulgin, head of Russia’s e-commerce platform Ozon, Boris Rotenberg, one of President Vladimir Putin’s closest business partners, and Said Kerimov, who controls Russia’s largest gold miner Polyus, are also included on the list, according to a draft document, which was submitted to the Financial Times.

Two of Putin’s daughters are also to be added to the list of people targeted by the bloc’s asset freezes and travel bans, if EU ambassadors approve. The list is not final and is subject to change before it comes into force.

According to the draft list, Ekaterina Tikhonova and Maria Vorontsova, Putin’s daughters from his first marriage, should be subject to sanctions for favoring Russian state funds.

The EU is stepping up sanctions by targeting Russian coal imports and expanding restrictions on the country’s banking sector as it responds to allegations of atrocities committed by the Russian military in Ukraine, including in the city of Bucha near Kyiv .

The latest round of measures is also expected to include €10 billion worth of export bans in areas such as quantum computing and advanced semiconductors, and €5.5 billion worth of bans on products such as wood, cement, seafood and spirits.

The EU is not expected to hit Russian oil exports in the current round of sanctions, but officials are discussing ways to include the sector in future rounds of sanctions.

Deripaska, who controlled Russia’s largest aluminum producer Rusal before US sanctions forced him to dilute his stake in the company in 2018, is on the draft list for his ownership of a number of defense companies the EU claims supplied weapons to the were used in the invasion of Ukraine.

Rotenberg, a Finnish citizen, made his fortune thanks to tenders and contracts from state-controlled oil and gas companies. He and his nephew Igor are said to be subject to sanctions because of their close ties to Putin. Arkady Rotenberg, Boris’ brother, is already under sanctions.

https://www.ft.com/content/da05eabe-161a-43ee-a2a1-5e1a212583b4 The EU wants to add high-profile Russian executives to the sanctions list

Adam Bradshaw

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