UK Sanctions Billionaire Russian Cronies Over Ukraine Mayhem

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UK has announced sanctions on three billionaire ‘cronies’ of Russia over the current crisis between Russia and Ukraine. British Prime Minister Boris Johnson made an announcement against three “very high net wealth” Russians. These are also called as the as “cronies” of President Vladimir Putin.

Eight years ago, UK has sanctioned Gennady Timchenko and Boris Rotenberg, now the third Igor Rotenberg, was also hit by sanctions. Bank Rossiya has invested in Ukraine, by opening its branches after 2014, which is annexation of Crimea. 69 years old Gennady Timchenko is a major shareholder in Bank Rossiya. As per a statement by the UK officials, Bank Russia is involved

in forging transport links and travel cards that allow the public to travel easily around the Crimean Peninsula.

Mr Timchenko is known as the Russia’s richest man. A citizen of Russia, Finland and Armenia, Timchenko has businesses established in Oil and Gas. He has an Electrical Engineering degree from an institute in St Petersburg. As per Forbes list his net worth is $23.5 billion. Timchenko is one of the founders of the Gunvor oil trading company. He sold his business stake to his partner in 2014, a day before US sanctions hit in 2014.

In his possession is a 40-meter yacht, names after his wife Lena. Also, being a sports fan and a passionate ice hockey fan, he is also the heads the sport’s professional league in Russia and is president of his home town team in St. Petersburg.

The second friend of Putin is Igor Rotenberg, son of Arkady, and once a senior manager at state-owned Russion Railways. He owns Russion citizenship. When he was sanctioned by US in 2014, he owned assets in the Russian energy sector from his father. As per Forbes list his net wealth is wealth to be $1.1bn. He invests in the transport sector, including the toll collection for lorries.

Next in the list is the Putin’s close friend, a 65-year-old Boris Rotenberg. Putin and Rotenberg’s relationship goes back meeting in a gyms and on the judo mats where they trained during their youth. A former professional judo trainer, he often acted as Mr. Putin’s sparring partner.

Boris Rotenberg and his brother Arkady collectively own the SMP bank and SGM, the largest company dedicated to building gas pipelines and electrical power supply lines in Russia. As per Forbes list his net wealth is wealth to be $1.2bn. Boris is also the member of the St Petersburg Connection, a powerful energy lobby under the leadership of Mr. Putin.

While in 2014, US government has sanctioned their company, and the same year, Putin awarded them a contracts worth billions of dollars with Gazprom, the state-owned energy corporation, and for the Sochi Olympics in 2014.

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