Wendy SiegelmanKey Putin oligarchs still profiting from trade with Europe, despite sanctions
Companies partially owned by billionaires closely tied to Putin continue to export their products to Western markets without disruption
A loophole allowing firms to operate in EU if sanctioned individuals hold less than 50% of shares enables oligarchs like Gennady Timchenko, Alisher Usmanov, and Oleg Deripaska to reap profits
#Russianoligarchs #Russiansanctions #Deripaska #Timchenko #Usmanov
The regime's minority stakeholders: Key Putin oligarchs still profiting from trade with Europe, despite sanctions
Companies partially owned by billionaires closely tied to Vladimir Putin continue to export their products to Western markets without disruption. An investigation by The Insider revealed that even individuals under sanctions are earning billions from deals with EU countries. They exploit a loophole that allows firms to operate freely in EU markets so long as sanctioned individuals hold less than 50% of the company’s shares. This loophole enables some of the most controversial oligarchs, including Gennady Timchenko, Alisher Usmanov, and Oleg Deripaska, to reap massive profits from trade with Europe.
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Kriszta Satori