UK extends sanctions against billionaire Pumpyansky

New restrictive measures include a ban on the arrival in Britain of aircraft and ships associated with a businessman. Pumpyansky has been under UK , EU and US sanctions since spring 2022 Dmitry Pumpyansky

British authorities have expanded restrictive measures against Russian billionaire Dmitry Pumpyansky, follows from an update in the UK sanctions list dated June 23.

Aircraft and vessels associated with the businessman (owned or chartered by him) are prohibited from entering the UK, they can be detained, the document says. The entrepreneur will be denied registration of aircraft, and the current permits will be terminated, indicated in the sanctions list. This will result in a ban on the provision of maintenance services, the document states.

The British authorities explain their decision by the fact that Pumpyansky “was involved in receiving benefits from the Russian government or providing support to it”, since he directly or indirectly owned and served as a DIRECTOR of the Pipe Metallurgical Company (TMK). London calls TMK itself working in the energy industry and "having strategic importance for the Russian government."

TMK founder Dmitry Pumpyansky ( FORBES estimates his fortune at $1.7 billion) came under UK sanctions in March 2022. it is also under restrictive measures from the US, EU, Switzerland and Japan. After the imposition of sanctions, the businessman left the board of directors of TMK, ceased to be its beneficiary, and also left the leadership of the Sinara group.

In the spring of 2022, the authorities of the British Overseas Territory of Gibraltar detained the yacht Axioma. She was associated with Pumpyansky. According to BLOOMBERG , after the imposition of sanctions, he transferred the shares of the company for which the ship was registered to another person.

In August, JPMorgan's demand for a $20.4 million loan, which the agency claimed was Pumpyansky's guarantor, put the yacht up for auction. It was sold that same month, REUTERS reported , without specifying the details of the deal.

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Pumpyansky made attempts to achieve the lifting of EU sanctions. His lawyer, Gabriel Lansky, said the restrictive measures against the businessman and his family are based on "abuse of power" and serve no clear reasonable purpose.