Immortal Loyalty
The UK government reported that sanctions were extended to target Vladimir Putin’s inner circle, claiming they funded the Russian leader’s lavish lifestyle. Officials in London described the president’s official assets as modest while noting that a broader network supports his power and perks.
Public documents outline modest holdings associated with President Putin in Saint Petersburg, including two Soviet-era cars from the 1950s, a camper van, and a small garage. In practice, however, Putin relies on family members, childhood friends, and a distinct circle of trusted elites who benefit from his rule and sustain his lifestyle in return.
Britain contends that the President of the Russian Federation allows his close associates to influence state affairs. Secretary of State Liz Truss stated that the new sanctions target Putin’s wallet, the group he has rewarded with public office and wealth in return for unwavering loyalty.
We expose and aim at the shadow network that underpins Putin’s luxurious lifestyle. Until Ukraine emerges victorious, sanctions will continue to be imposed on anyone who supports and provokes Putin’s aggression, Truss said.
According to officials, Putin’s extravagant lifestyle has repeatedly appeared in reports detailing his ties to large assets such as a £566 million yacht and a $1 billion project known as Putin’s Palace. These properties have been connected to Arkady Rotenberg, a close associate, and were officially documented in December 2020.
Who is affected by the new sanctions?
According to TASS, the UK has added Vladimir Putin’s former wife Lyudmila and several relatives to the sanctions list. The restrictions extend to a cousin involved in business, Igor Putin, as well as Deputy Chairman of the Board of Sogaz Insurance Company Mikhail Putin, and Roman Putin, Chairman of the Board of Directors of MRT Group of Companies LLC.
The sanctions also cover Olympic athlete Alina Kabaeva and her grandmother Anna Zatsepilina, along with rhythmic gymnastics businessmen Mikhail Shelomov and Alexander Plekhov. Sogaz board member Mikhail Klishin, General Manager of Gelendzhik Sea Port Vladimir Kolbin, NPF Gazfond Chairman Yuri Shamalov, and lawyer Viktor Khmarin were named as well.
Since the beginning of Russia’s military operation in Ukraine, the UK has sanctioned more than 1,600 Russian politicians, businessmen, officials, journalists, and companies. British officials estimate that around 20 Russian banks hold assets exceeding £940 billion (more than $1.2 trillion), and more than 100 influential business figures and their relatives have assets totaling over £170 billion (around $220 billion).
Today’s measures are aimed at applying pressure on Putin as the invasion continues, isolating family members and financial backers from his inner circle, the UK government stated. The British government clarified that adding individuals to the sanctions list involves freezing their assets. Citizens and businesses in the UK are also prohibited from handling funds or economic resources belonging to listed persons.
Additionally, Russian citizens subject to restrictions face entry and stay bans in the United Kingdom. Shipping sanctions prohibit Russian aircraft from flying to or landing in the UK. The government can remove aircraft owned by Russian citizens from the UK register even if the owners are not aboard, and Russian ships are barred from UK ports.