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Zelenskyy enacts sanctions against companies linked to Russian tycoon Fridman

These are nine legal entities registered mainly in Cyprus.

Zelenskyy enacts sanctions against companies linked to Russian tycoon Fridman
Mikhail Fridman

President Volodymyr Zelenskyy has enacted sanctions against a number of legal entities. The proposal to impose restrictive measures was previously made by the Security Service of Ukraine (SBU) and approved by the National Security and Defence Council. The companies are linked to Russian oligarch Mikhail Fridman.

The sanctions are described in Decree 739/2023 published on the president's website. Zelenskyy instructed the secretary of the National Security and Defence Council of Ukraine to oversee the implementation of the decision.

The sanctions list includes nine companies. The sanctions against three of them, Sogeral Foundation (Principality of Liechtenstein), Haberfield Limited (Cyprus), Slavisilla Holdings Limited (Cyprus), were imposed for 10 years.

Alfa Finance Holdings Limited (Cyprus), Erasmony Limited (Cyprus), Rissa Investment Limited (Cyprus), International Distributions Systems Limited (Cyprus) and CTF Holdings (Luxembourg) and Dendar Invsetment Find Limited faced two-year sanctions.

The restrictive measures include:

· blocking of assets

· prevention of capital outflow from Ukraine

· prohibition to increase the size of the charter capital of business entities, enterprises in which a resident of a foreign state, a foreign state, a legal entity in which a non-resident or a foreign state is a participant, owns 10 per cent or more of the charter capital or has influence on the management of the legal entity or its activities.

As a reminder, Friedman is subject to US sanctions. In early September, the oligarch was served with a notice of suspicion in absentia by the SBU. According to the investigation, he is involved in financing the Russian war against Ukraine.

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