The Supreme Court of England and Wales did not lift the sanctions that targeted Angelique Khan, the wife of Herman Khan, a Russian billionaire who co-founded the LetterOne investment group. Reuters reported this development, placing the decision within a broader pattern of British sanctions that have affected individuals connected to Russian business circles since the invasion of Ukraine. The publication emphasizes that the sanctions on Angelique Khan were imposed by the United Kingdom in April 2022, following similar measures taken against her husband a month earlier, reflecting a coordinated approach to penalizing linked wealth and influence associated with Russian interests. On February 20, the UK Supreme Court declined to remove the sanctions on Herman Khan himself, illustrating the sustained legal obstacles that often accompany sanction regimes and the high bar for lifting such restrictions. (Reuters)
Bloomberg’s account from September 2022 notes that Herman Khan returned to Russia after spending a decade in England. The report details how, in the months preceding his relocation, he transferred his stake in LetterOne to a third party who was not subject to Western sanctions. This maneuver appears to have been designed to protect a significant personal fortune—valued at about $2 billion and largely non-Russian in origin—from being frozen under Western sanctions, thereby preserving liquidity and business leverage as his global interests shifted geographic location. (Bloomberg)
Forbes has their own assessment, placing German Khan among the top tier of Russian wealth, listing him as the 14th richest Russian with an estimated fortune of about $7.8 billion. This kind of ranking underscores the scale of assets that can be affected by sanctions regimes, as much of the wealth resides in diversified holdings that span multiple jurisdictions and corporate structures. The profiling also helps explain why sanction enforcement continues to attract attention from financial analysts and policy watchers who monitor the flow of capital and the resilience of major family-linked enterprises under pressure from regulators. (Forbes)
In a separate public statement, President Aleksandar Vučić asserted that his country’s moral stance does not permit sanctions against Russia, signaling how political narratives and strategic alliances intersect with economic measures. The remark reflects a broader dialogue about how different states interpret and respond to Western sanctions, and it highlights the ongoing debates surrounding collective punishment versus targeted action in international diplomacy. (Source)