Zelenskyy Expands Sanctions Against 390 Russian Oligarchs

President Volodymyr Zelenskyy extends sanctions on 390 Russian oligarchs and 366 Russia-linked companies for 5 and 10 years

390 Russian Oligarchs Sanctioned

President of Ukraine Volodymyr Zelenskyy has extended sanctions against 390 oligarchs linked to Russia, including Dmitry Firtash and Oleg Deripaska. This information refers Decree No. 376/2024 published on the Presidential Office’s website.

“To enact the decision of the National Security and Defense Council of Ukraine of June 24, , 2024 “On the Application of Personal Special Economic and Other Restrictive Measures (Sanctions)”,” the Presidential Decree reads 

Sanctions against Russian oligarchs were extended for 5 and 10 years.

Sanctions restrictions against 366 companies were also extended.

The control over the implementation of the NSDC decision enacted by this decree is entrusted to the Secretary of the National Security and Defense Council of Ukraine.

According to the NSDC decision, the Ministry of Foreign Affairs of Ukraine should inform the competent authorities of the European Union, the United States of America, and other states about the imposition of sanctions and advocate for similar restrictive measures.

The Decree comes into force on the day of its publication.

Additionally, another Presidential Decree No. 377/2024 has enacted the NSDC’s decision to apply personal economic and other restrictive measures to three Russian citizens and one legal entity.

Big Names In Sanction Lists.

The new sanctions provide for the continuation of the blocking of assets, restrictions on trade operations, partial or complete suspension of transit of resources, flights and transportation through the territory of Ukraine, cancellation of licenses for conducting certain types of activities, ban on participation in privatization, etc.

The list of personal sanctions also includes Russian businessman Oleg Deripaska, Gazprom CEO Oleksiy Miller, VTB Bank CEO Andrey Kostin, as well as Russian terrorist leaders and collaborators – Pavlo Gubarev, Igor Plotnytskyi, Igor Bezler, and Igor Girkin.

Sanctions against Firtash and Fuchs

Sanctions against Firtash and Fuchs are put into effect for 10 years.

The following restrictive measures have been applied to them:

1. Blocking of assets is a temporary deprivation of the right to use and dispose of assets belonging to an individual or legal entity, as well as assets in relation to which such a person can directly or indirectly (through other individuals or legal entities) perform actions identical in content to the exercise of the right to dispose of them;
2. Restriction of trade operations (complete cessation);
3. Restriction, partial or complete cessation of the transit of resources, flights and transportation across the territory of Ukraine (complete cessation);
4. Preventing the withdrawal of capital outside Ukraine;
5. Stopping the fulfillment of economic and financial obligations (Firtash only);
6. Cancellation or suspension of licenses and other permits, the receipt (availability) of which is a condition for carrying out a certain type of activity, in particular, cancellation or suspension of special subsoil permits (hereinafter only for Firtash: cancellation of special subsoil permit No. 3640, suspension of special permit for subsoil use No. 3735);
7. Prohibition of participation in privatization, leasing of state property by residents of a foreign state and persons directly or indirectly controlled by residents of a foreign state or acting in their interests;
8. Prohibition or restriction of entry of foreign non-military vessels and warships into the territorial sea of ​​Ukraine, its internal waters, ports and aircraft into the airspace of Ukraine or landing on the territory of Ukraine (total ban);
9. Prohibition of technology transfer, rights to intellectual property rights;
10. Deprivation of state awards of Ukraine and other forms of celebration (Firtash only);
11. Other sanctions corresponding to the principles of their application established by this Law (prohibition of the payment of dividends or other payments related to corporate rights (ownership of a share, shares, shares) in favor of the sanctioned person and persons acting on his behalf) (Firtash only).