The United States is imposing sanctions on four prominent members of Russia’s financial elite who have served on the supervisory board of the Alfa Group Consortium, one of the largest financial and investment conglomerates in Russia. The Treasury Department named the individuals as Petr Olegovich Aven, Mikhail Maratovich Fridman, German Borisovich Khan, and Alexey Viktorovich Kuzmichev.
Petr Olegovich Aven serves as the chairman of the board of a Russia-based insurance company and is a member of the supervisory board of the Alfa Group. Mikhail Maratovich Fridman is the founder of the Alfa Group, was the former chairman of the supervisory board of the Alfa Group, and remains involved in the conglomerate. German Borisovich Khan is a member of the supervisory board of the Alfa Group. Additionally, Khan is the chairman of the board of a Russian company that is engaged in construction activities, and is a participant/founder of a separate company also engaged in construction activities. Alexey Viktorovich Kuzmichev is a member of the supervisory board of the Alfa Group and leads a Russia-based investment company.
A State Department announcement on August 11 said that the U.S. is also imposing sanctions on the Russian Association of Employers the Russian Union of Industrialists and Entrepreneurs (RSPP), a Russian business organization involved in the technology sector of the Russian Federation economy. The organization has promoted import substitution and convened meetings to promote responses to sanctions. The Treasury department also said RSPP has also been involved in activities related to Russia’s responses to sanctions imposed on Putin’s regime since Russia’s full-scale invasion of Ukraine.
“Wealthy Russian elites should disabuse themselves of the notion that they can operate business as usual while the Kremlin wages war against the Ukrainian people,” said Deputy Secretary of the Treasury Wally Adeyemo. “Our international coalition will continue to hold accountable those enabling the unjustified and unprovoked invasion of Ukraine.”
