Zelensky imposed sanctions against Blavatnik and Crimean companies

President of Ukraine Vladimir Zelensky signed a decree introducing new sanctions against individuals and legal entities. In particular, they targeted the American billionaire, a native of Odessa, Leonard Blavatnik.

In the annex to the decree Blavatnik is mentioned as a British citizen . Blavatnik is a native of the USSR. He was born in Odessa, and in 1978 emigrated to the USA. In the 1990s, he began doing business in Russia; currently, most of Blavatnik’s fortune is associated with assets in Europe and the USA.

The sanctions list also mentions a businessman, a native of Dnieper, Vadim Ermolaev. Forbes Ukraine included him in the list of 100 richest Ukrainians in 2021, estimating his fortune at $220 million. The Alef Group, owned by the businessman, was actively involved in the construction of commercial facilities in the Dnieper, the publication indicated.

Citizens of Russia, Ukraine and Latvia are also among those subject to sanctions. Restrictive measures include blocking of assets and a ban on their withdrawal by sanctioned persons, restrictions on trade operations and participation in privatization.

Zelensky’s decree also introduced sanctions against companies registered in Crimea, Zaporozhye region and Cyprus.

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The Ukrainian authorities regularly impose sanctions against Russian citizens, companies and organizations. Western countries also apply restrictive measures against Russia after the start of the military operation. Moscow considers the sanctions illegitimate, illegal and “unpromising”, as well as unable to influence Moscow’s position. The Kremlin said that Russia would circumvent Western sanctions to protect its interests.