As the crisis in Ukraine escalates, Britain has imposed sanctions on Russia, targeting five Russian banks and three individuals with significant wealth. According to British reports, the three individuals included in the sanctions are close to Russian President Vladimir Putin: Gennady Timchenko, Boris Rotenberg, and Igor Rotenberg.
The American magazine "Forbes" assessed the wealth and assets of the Rotenberg brothers in 2021 at $1.2 billion. The Rotenberg brothers own SGM Group, which is the largest construction company for gas pipelines and electrical supply lines in Russia. A report by the British newspaper "Metro" indicated that Timchenko’s wealth is estimated at $22 billion, highlighting his ownership of the "Volga" group, which specializes in energy, transport, and infrastructure investments.
The sanctions on the three individuals were imposed due to their close ties to the Russian President, with British Prime Minister Boris Johnson describing them as "Putin's friends," according to "Metro." According to "Forbes," this is not the first time the West has imposed sanctions on these individuals, as they were also targeted by American sanctions in 2014.
On Tuesday, Western countries imposed new sanctions on Russia after it ordered the deployment of troops in two separatist regions in eastern Ukraine, threatening to impose further sanctions if a full-scale Russian invasion occurred. The United States, the European Union, Britain, Australia, and Japan announced plans to penalize Russian banks and elite individuals while Germany suspended a major gas pipeline project from Russia, which the West accuses of amassing over 150,000 troops near the Ukrainian border.
Reuters reported that U.S. President Joe Biden stated that U.S. sanctions would be applied to VEB Bank and the Russian military bank "Promsvyazbank," which engages in defense deals. Washington also stated it has restricted transactions in the secondary market on Russian sovereign bonds issued after March 1. Canada has also announced similar measures and will impose sanctions on members of the Russian parliament who voted in favor of recognizing the independence of the separatist regions of Luhansk and Donetsk.
