UK sanctions four Russian steel and petrochemical tycoons (updated)

Evraz

02/11/2022 11:11

(Adds details)
       LONDON, Nov 2 (Reuters) - Britain has sanctioned four
Russian steel and petrochemical business owners, including the
former head of steel producer Evraz  EVRE.L , the government
said on Wednesday, its latest measures taken against Moscow over
the war in Ukraine. 
    Those sanctioned include Alexander Abramov and Alexander
Frolov, who Britain described as known associates of oligarch
Roman Abramovich, himself sanctioned earlier this year. 
    Abramov has an estimated net worth of 4.1 billion pounds
($4.7 billion) and Frolov 1.7 billion pounds, the foreign office
statement said. They were targeted for their involvement in the
extractive, transport and construction sectors, it added. 
    Frolov is the former chief executive officer of Evraz, which
was also sanctioned by Britain for operating in sectors of
"strategic significance to the government of Russia".
    "Today we are sanctioning an additional four oligarchs who
rely on Putin for their positions of authority and in turn fund
his military machine," Foreign Secretary James Cleverly said.
    "By targeting these individuals, we are ramping up the
economic pressure on (Russian President Vladimir) Putin and will
continue to do so until Ukraine prevails." 
    The sanctions implemented include travel bans, asset freezes
and transport sanctions, the foreign office said.   
    The British government, which has been led by three prime
ministers this year, has been consistent in its stance on the
war, having imposed sanctions on hundreds of Russian individuals
and entities since Moscow sent troops into Ukraine on Feb. 24.
    On a call with Ukrainian President Volodymyr Zelenskiy after
taking office last week, Prime Minister Rishi Sunak promised him
that the country's support for Ukraine would be steadfast and
"as strong as ever under his premiership".
    The government said it has also sanctioned Airat Shaimiev,
who has an estimated net worth of 902 million pounds, and Albert
Shigabutdinov, with an estimated net worth of 977 million
pounds. 
    Shigabutdinov controlled roughly 96% of chemical and
petrochemical processing in the Tatarstan region of Russia,
including the production of crude oil, the statement said.
 ($1 = 0.8693 pounds)
 (Reporting by William James; Writing by Muvija M; Editing by
Elizabeth Piper and Jan Harvey)
 ((Muvija.M@thomsonreuters.com; within the UK: +44 7776813338,
outside the UK: +91 80 61822698; Twitter: https://twitter.com/muvija_m;))