Inside Putin's inner circle: meet the 10 Russian oligarchs cut off by US sanctions following the invasion of Ukraine

Hannah ToweyFeb 28, 2022, 01:05 IST

Russian President Vladimir Putin (L) toasts holding a glass of vodka with Deputy Defense Minister Valery Gerasimov (R) and Presidential Administration Chief of Staff Sergei Ivanov (C).Mikhail Svetlov/Getty Images

The Biden administration targeted Putin's elite inner circle in Thursday's economic sanctions.
It's part of the US' latest efforts to financially cripple Russia following the invasion of Ukraine.

Wealthy oligarchs are the latest target of US sanctions announced by the Biden Administration on Thursday, following Russia's invasion of Ukraine.

Russian Energy Week in MoscowMikhail Svetlov/Getty Images

The US Treasury identified 10 Russian elites with close ties to Putin who "leverage their proximity to the Russian President to pillage the Russian state, enrich themselves ... at the expense of the Russian people," per the press release.

A composite Russian President Vladimir Putin (L) and President Joe Biden (R.)Kremlin Press Office/Handout/Anadolu Agency via Getty Images; Kent Nishimura / Los Angeles Times via Getty Images

The US Treasury identified 10 Russian elites with close ties to Putin who "leverage their proximity to the Russian President to pillage the Russian state, enrich themselves ... at the expense of the Russian people," per the press release.

Bloomberg reported that the US, Canada, and several European nations will freeze the listed oligarchs' Western assets — including their yachts, private jets, and luxury homes.

The Kremlin Palace in Moscow, Russia.Jarung H/Shutterstock

Bloomberg reported that the US, Canada, and several European nations will freeze the listed oligarchs' Western assets — including their yachts, private jets, and luxury homes.

Meet the wealthy elite of Russia being hit by the sanctions.

Associated Press

1. Sergei Borisovich Ivanov: Russia's Special Presidential Representative for Environmental Protection, Ecology, and Transport.

Russian President Vladimir Putin (R) listens to his Special Envoy on Ecology Sergei Ivanov (L) during a meeting with foreign investors at the 2018 Saint Petersburg International Economic Forum.Mikhail Svetlov/Getty Images

The former KGB agent was Putin's Chief of Staff from 2011 to 2016 and "one of Putin's closest allies," per the US Treasury department.

Russian Presidential Special Envoy on Ecology Sergei Ivanov.Mikhail Svetlov/Getty Images

2. His son, Sergei S. Ivanov: CEO of Alrosa, a state-backed diamond mining company.

Russia's President Vladimir Putin (L) meets with Sergei Ivanov, CEO of the Alrosa diamond mining company, at the Moscow Kremlin.Mikhail Klimentyev\TASS via Getty Images

Alrosa is partially owned by Russia and accounts for 28% of the world's diamond mining capacity. Its sales last year totaled $4.2 billion, according to Statista.

Russian diamond mining company Alrosa's CEO Sergei Ivanov Jr.ALEXANDER NEMENOV/AFP via Getty Images

The company was one of 11 Russian entities subjected to new debt and equity sanctions on Thursday. Alrosa has a market cap of $6.2 billion, according to Forbes, and a US branch headquartered in New York City.

This 51.38-carat Alrosa diamond was included in a collection of 5 stones auctioned with a starting price of $10 million.YURI KADOBNOV/AFP via Getty Images

The company was one of 11 Russian entities subjected to new debt and equity sanctions on Thursday. Alrosa has a market cap of $6.2 billion, according to Forbes, and a US branch headquartered in New York City.

3. Nikolai Platonovich Patrushev: Secretary of the Russian Federation Security Council, and "longtime close associate of Putin," per the US Treasury.

Russian Security Council Secretary Nikolai Patrushev and Russia's President Vladimir Putin during a meeting with the Secretary-General of the Japanese National Security Council.Mikhail Metzel\TASS via Getty Images

The Russian Federal Security Service is known as the "successor" to the Soviet Union's KGB.

Officers of the Alpha special operations unit simulate responding to a hostage situation during a counter-terrorism exercise held by the regional office of the Russian Federal Security Service.Donat Sorokin\TASS via Getty Images

4. Nikolai Patrushev's son, Andrey Patrushev: appointed in 2019 as the CEO of Gazprom Neft, Russia's third-largest oil producer.

Andrey PatrushevGazprom Neft press center

The oil company was also listed among the 11 Russian entities subjected to Thursday's economic sanctions.

Gazprom Neft's HAKURYU-5 drilling rig develops offshore oil field in Sea of Okhotsk.Yuri Smityuk\TASS via Getty Images

5. Igor Ivanovich Sechin: CEO of Rosneft, one of the world's largest oil companies. The oil baron has been called the second most powerful man in Russia, after Putin.

Russian President Vladimir Putin (L) looks on Rosneft President Igor Sechin (R) during Russian-Chinese talks at the Grand Kremlin Palace in Moscow.Mikhail Svetlov/Getty Images

6. His son, Ivan Igorevich Sechin: reportedly a deputy department head at Rosneft.

Rosneft builds North Bay Port crude oil terminal on eastern coast of Yenisey Gulf in Krasnoyarsk Territory, Russia.Denis Kozhevnikov\TASS via Getty Images

7. Alexander Aleksandrovich Vedyakhin: First Deputy Chairman of the Executive Board of Sberbank, the largest financial institution in Russia.

Alexander Vedyakhin, First Deputy Chairman of the Sberbank Executive Board.Mikhail Japaridze\TASS via Getty Images

Sberbank holds around a third of Russia's bank assets. Thursday's sanctions require US financial institutions to reject any payments that Sberbank attempts to make in US dollars.

People queue outside a branch of Russian state-owned bank Sberbank to withdraw their savings and close their accounts following Russia's attack on Ukraine.MICHAL CIZEK/AFP via Getty Images

Sberbank holds around a third of Russia's bank assets. Thursday's sanctions require US financial institutions to reject any payments that Sberbank attempts to make in US dollars.

8. Andrey Sergeyevich Puchkov: a high-ranking executive at VTB Bank, Russia's second-largest financial institution. Puchkov also has stakes in two Moscow-based real estate companies.

Russia's VTB bank was listed as one of those targeted by the proposed sanctions, according to Reuters.Kirill Kudryavtsev/Getty Images

8. Andrey Sergeyevich Puchkov: a high-ranking executive at VTB Bank, Russia's second-largest financial institution. Puchkov also has stakes in two Moscow-based real estate companies.

9. Yuri Solovyev: first deputy president-chairman of the Board at VTB Bank, which was hit with full-blocking sanctions to "sever a critical artery of Russia's financial system."

Yuri Solovyev, first deputy president-chairman of the Board at VTB Bank, during a meeting between Russian President Vladimir Putin and investors.Mikhail Klimentyev\TASS via Getty Images

9. Yuri Solovyev: first deputy president-chairman of the Board at VTB Bank, which was hit with full-blocking sanctions to "sever a critical artery of Russia's financial system."

10. Galina Olegovna Ulyutina: Soloviev's ex-wife was involved in a "golden passport scheme," where Russia's elite "pay" for citizenship by investing in a country. Golden passports in the US, Canada, and Europe are now being limited under sanctions against Russia.

Sugar-baby TikTok is filled with videos showing off lavish lifestyles.Jupiter Images

10. Galina Olegovna Ulyutina: Soloviev's ex-wife was involved in a "golden passport scheme," where Russia's elite "pay" for citizenship by investing in a country. Golden passports in the US, Canada, and Europe are now being limited under sanctions against Russia.

Photos show protesters across the world calling on Putin to stand down as Russia continues its assault on Ukraine

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Inside Putin's inner circle: meet the 10 Russian oligarchs cut off by US sanctions following the invasion of Ukraine

Wealthy oligarchs are the latest target of US sanctions announced by the Biden Administration on Thursday, following Russia's invasion of Ukraine.

The US Treasury identified 10 Russian elites with close ties to Putin who "leverage their proximity to the Russian President to pillage the Russian state, enrich themselves ... at the expense of the Russian people," per the press release.

Bloomberg reported that the US, Canada, and several European nations will freeze the listed oligarchs' Western assets — including their yachts, private jets, and luxury homes.

Meet the wealthy elite of Russia being hit by the sanctions.

1. Sergei Borisovich Ivanov: Russia's Special Presidential Representative for Environmental Protection, Ecology, and Transport.

The former KGB agent was Putin's Chief of Staff from 2011 to 2016 and "one of Putin's closest allies," per the US Treasury department.

2. His son, Sergei S. Ivanov: CEO of Alrosa, a state-backed diamond mining company.

Alrosa is partially owned by Russia and accounts for 28% of the world's diamond mining capacity. Its sales last year totaled $4.2 billion, according to Statista.

The company was one of 11 Russian entities subjected to new debt and equity sanctions on Thursday. Alrosa has a market cap of $6.2 billion, according to Forbes, and a US branch headquartered in New York City.

3. Nikolai Platonovich Patrushev: Secretary of the Russian Federation Security Council, and "longtime close associate of Putin," per the US Treasury.

The Russian Federal Security Service is known as the "successor" to the Soviet Union's KGB.

4. Nikolai Patrushev's son, Andrey Patrushev: appointed in 2019 as the CEO of Gazprom Neft, Russia's third-largest oil producer.

The oil company was also listed among the 11 Russian entities subjected to Thursday's economic sanctions.

5. Igor Ivanovich Sechin: CEO of Rosneft, one of the world's largest oil companies. The oil baron has been called the second most powerful man in Russia, after Putin.

6. His son, Ivan Igorevich Sechin: reportedly a deputy department head at Rosneft.

7. Alexander Aleksandrovich Vedyakhin: First Deputy Chairman of the Executive Board of Sberbank, the largest financial institution in Russia.

Sberbank holds around a third of Russia's bank assets. Thursday's sanctions require US financial institutions to reject any payments that Sberbank attempts to make in US dollars.

8. Andrey Sergeyevich Puchkov: a high-ranking executive at VTB Bank, Russia's second-largest financial institution. Puchkov also has stakes in two Moscow-based real estate companies.

9. Yuri Solovyev: first deputy president-chairman of the Board at VTB Bank, which was hit with full-blocking sanctions to "sever a critical artery of Russia's financial system."

10. Galina Olegovna Ulyutina: Soloviev's ex-wife was involved in a "golden passport scheme," where Russia's elite "pay" for citizenship by investing in a country. Golden passports in the US, Canada, and Europe are now being limited under sanctions against Russia.