Abramovich associates on latest list of UK oligarchs sanctioned over Ukraine war

Business associates of Roman Abramovich are among the latest Russian oligarchs to have sanctions imposed on them by the UK Government.

Foreign Secretary James Cleverly confirmed on Wednesday that the Government is sanctioning four new Russian oligarchs, accusing them of being involved in industries helping to prop up the Russian military amid the ongoing war in Ukraine.

Alexander Abramov and Alexander Frolov, believed to be associated with former Chelsea football club owner Roman Abramovich and previous owners of major stakes in Russian steel manufacturer Evraz plc, are among those sanctioned.

The pair are believed to have an estimated global net worth of £4.1 billion and £1.7 billion respectively, with the Government suggesting that they have UK property investments worth £100 million.

Airat Shaimiev, who has an estimated global net worth of £902 million, and Albert Shigabutdinov, who has an estimated global net worth of £977 million, were both also sanctioned.

Mr Shaimiev is CEO of Russian transport and construction company OAO Tatavtodor, while Mr Shigabutdinov is the boss of the AO TAIF group, which owns around 96% of chemical and petrochemical processing in the Tatarstan region of Russia.

All four will face a travel ban, asset freeze and transport sanctions.

Mr Cleverly said: “Putin continues to rely on his cabal of selected elite to maintain control of his industrial complex and fuel his illegal invasion of Ukraine.

“Today we are sanctioning an additional four oligarchs who rely on Putin for their positions of authority and in turn fund his military machine.

“By targeting these individuals, we are ramping up the economic pressure on Putin and will continue to do so until Ukraine prevails.”

Around 1,200 people and 120 entities have been sanctioned by the UK Government in total.