U.K. freezes assets of 7 Russian oligarchs, including Roman Abramovich and Oleg Deripaska


Britain on Thursday announced new sanctions on "seven of Russia's wealthiest and most influential oligarchs," freezing their U.K. assets and banning them from the country, as part of Britain's "efforts to isolate [Russian President Vladimir] Putin and those around him" in response to Russia's war on Ukraine. Those sanctioned include Roman Abramovich, owner of the Chelsea soccer team, and two close Putin allies: Rosneft CEO Igor Sechin and Oleg Deripaska, an aluminum magnate with ties to Paul Manafort.
"There can be no safe havens for those who have supported Putin's vicious assault on Ukraine," Prime Minister Boris Johnson said in a statement. "We will be ruthless in pursuing those who enable the killing of civilians, destruction of hospitals, and illegal occupation of sovereign allies." The new sanctions "show once again that oligarchs and kleptocrats have no place in our economy or society," British Foreign Secretary Liz Truss added. "With their close links to Putin they are complicit in his aggression. The blood of the Ukrainian people is on their hands."
Britain said the seven Russians have a collective net worth of nearly $20 million. Abramovich alone is worth more than $12 billion, the British government said, citing Forbes. The other sanctioned oligarchs are VTB bank chairman Andrey Kostin, Gazprom chief Alexei Miller, pipeline company Transneft president Nikolai Tokarev, and Bank Rossiya chairman Dmitri Lebedev.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
The personal sanctions on oligarchs closely associated with Putin and his government "are incredibly important," Pavel Khodorkovskiy, the son of a Russian oligarch-turned-dissident, told The Washington Post on Wednesday. "Why? Because they are stemming the flow of capital back to Russia that, at this point, can and will be used to finance the slaughter of Ukrainian people." But "in terms of oligarchs' personal influence over Putin, I think that's a misconception," he added. "There is none. Putin views them as wallets, as a means to an end."
Abramovich said last week he decided to sell Chelsea FC, one of the top teams in England's Premier League, but these sanctions put that plan on hold. Culture Secretary Nadine Dorries said the British government will issue a "special license" allowing Chelsea to continue operating and playing soccer "while, crucially, depriving Abramovich of benefiting from his ownership of the club."
Separately, wealthy Russians are trying to shift some of their wealth from Switzerland and London to Dubai to shield their assets from Western sanctions, Reuters reported Thursday.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.
-
What does 'conquering' Gaza mean to Israel?
Today's Big Question Benjamin Netanyahu's cabinet has approved a plan to displace much of the Palestinian population while seizing and occupying the territory on a long-term basis.
-
Casey Means: the controversial 'wellness influencer' nominated for surgeon general
In the Spotlight Means has drawn controversy for her closeness to RFK Jr.
-
Trump taps Fox News' Pirro for DC attorney post
speed read The president has named Fox News host Jeanine Pirro to be the top federal prosecutor for Washington, replacing acting US Attorney Ed Martin
-
Warren Buffet announces surprise retirement
speed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff display
Speed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loom
Speed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panels
Speed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of business
Speed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
-
Trump's China tariffs start after Canada, Mexico pauses
Speed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
-
Chinese AI chatbot's rise slams US tech stocks
Speed Read The sudden popularity of a new AI chatbot from Chinese startup DeepSeek has sent U.S. tech stocks tumbling
-
US port strike averted with tentative labor deal
Speed Read The strike could have shut down major ports from Texas to Maine