UK sanctions Russia's 2nd richest 'Nickel King' Potanin and Putin's cousin

Vladimir Potanin, Chairman of Nornickel [Image source=Yonhap News]

[Asia Economy Reporter Donghoon Jeong] The UK has sanctioned Vladimir Potanin, considered Russia's second richest person, and Anna Chivileva, a cousin of Russian President Vladimir Putin.

On the 29th (local time), the UK government announced 13 new sanctions against Russia, including these individuals.

According to the UK government, Potanin, chairman of Norilsk Nickel and the second wealthiest person in Russia, has continued to support Putin following the invasion of Ukraine, increasing his wealth through acquisitions such as Rosbank and shares in Tinkoff Bank.

Potanin's net worth is estimated at ?13 billion (approximately 20.5 trillion KRW), and he holds a 36% stake in Norilsk Nickel, the world's largest refined nickel and palladium producer. Anna Chivileva, Putin's cousin and chairwoman of the coal company JSC Kolmar Group, was also added to the sanctions list.

A spokesperson for the UK government stated, "Today's sanctions demonstrate that anyone, including Putin's close associates, can be targeted." Additionally, the UK government sanctioned Russian individuals and entities supporting the Syrian Assad regime and prohibited Russia from using trust services within the UK.