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Russia’s Wealthiest Man Becomes Latest Target Of EU Sanctions

Russian oligarch Alexei Mordashov, who owns a third of Europe’s biggest tour operator Tui and is its largest single shareholder, was added to the EU’s sanctions list on Monday night as Russia’s attack on Ukraine continues.

Posted: 2nd March 2022 by
Finance Monthly
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The EU has voiced a series of concerns about Mordashov, including claims that Rossiya Bank, in which Mordashov has a financial interest, serves as the “personal bank” of senior Russian officials who directly benefited from Russia’s annexation of Crimea in 2014. Additionally, the EU also claims that the media businesses Mordashov is invested in helped to destabilise Ukraine through pro-Russian television stations. 

In a statement, Mordashov said he failed to see how his inclusion on the EU sanctions list would help end the conflict in Ukraine. I have absolutely nothing to do with the emergence of the current geopolitical tension,” Mordashov said.

In 2021, Mordashov just missed out on a place on Forbes’ list of the top 50 richest people in the world, coming in with a ranking of 51. At the time, Mordashov’s personal net worth was estimated to stand at $29.1 billion.

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