Closing post
Time to wrap up… here are today’s main stories:
WSJ: Russian oligarch Vladimir Potanin faces US sanctions
The U.S. is moving to impose sanctions on one of Russia’s wealthiest men, Vladimir Potanin, as well as on some of his financial companies, according to the Wall Street Journal.
Potanin, known as the “Nickel King”, is in the spotlight as Washington looks for ways to further clamp down on Russia amid the war in Ukraine.
The WSJ says:
The action, which could be announced as early as Thursday, is expected to include sanctions against Mr. Potanin, his wife Ekaterina Potanina and a yacht he owns, US officials said.
Also on the list, according to these officials: Interros, an investment holding company Mr. Potanin controls, and Rosbank, which Interros bought from Société Générale SA earlier this year.
The UK sanctioned Potanin back in June, saying he had continued “to amass wealth as he supports Putin’s regime, acquiring Rosbank, and shares in Tinkoff Bank in the period since Russia’s invasion of Ukraine”.
Potanin devised Russia’s infamous “loans for shares” programme in the 1990s, when he worked for Boris Yeltsin. He is now president and chairman of Siberian mining group Norilsk Nickel, a major Russian mining company.
According to the WSJ, US officials are keeping Nornickel off the list of sanctioned companies.
