Ukraine imposes sanctions on Fridman-affiliated companies

Ukraine’s President Volodymyr Zelensky has signed a decree imposing sanctions on nine companies reportedly affiliated with Russian oligarch Mikhail Fridman, who Kyiv accuses of using his billions to help Moscow finance its war.

Official news agency Ukrinform said the entities were registered in Liechtenstein, Luxembourg and Cyprus and that sanctions against them ‘provide, in particular, for the blocking of assets, the prevention of the withdrawal of their capital from Ukraine, and the prohibition of increasing the authorized capital of Ukrainian subsidiaries.’

Zelensky’s decree, signed 7 November, imposed sanctions for 10 years on the Sogeral Foundation, Haberfield Limited, Slavisilla Holdings Limited and Dendar Investment Fund Limited.

Two-year restrictive measures were imposed on Alfa Finance Holdings Limited, Erasmony Limited, CTF Holdings S.A., Rissa Investments Limited and International Distribution Systems Limited.

Fridman, co-founder of Alfa Bank, Russia’s largest non-state bank, has been sanctioned by the United States, European Union and United Kingdom.