UK Updates Grounds for Mikhail Fridman's Sanctions Designation to Include Petr Aven Association
The United Kingdom has amended the statement of reasons underpinning Mikhail Fridman's designation under the Russia (Sanctions) (EU Exit) Regulations 2019.
Fridman was originally UK-sanctioned in 2022 on the basis of his role as a director of the Alfa Group, a major financial services conglomerate active in Russia's banking sector. The updated statement of reasons now additionally cites his association with Petr Aven, who is himself UK-sanctioned for his own links to the Alfa Group.
Fridman was originally UK-sanctioned in 2022 on the basis of his role as a director of the Alfa Group, a major financial services conglomerate active in Russia's banking sector. The updated statement of reasons now additionally cites his association with Petr Aven, who is himself UK-sanctioned for his own links to the Alfa Group.
- The amendment reflects the UK's ongoing practice of reviewing and strengthening the evidentiary basis for existing designations, rather than introducing a new listing.
