Russian oligarch Fridman remains hobbled by UK, U.S. sanctions — report
Even after the EU lifted sanctions from Russian oligarch Mikhail Fridman, he will likely struggle receiving dividends from his overseas assets, Bloomberg reported on Oct. 2.
Russian oligarch Mikhail Fridman remains restricted by UK and U.S. sanctions, according to a Bloomberg report from October 2. Despite the EU lifting sanctions on Fridman, his ability to access dividends from his overseas assets, primarily held in LetterOne Holdings and LetterOne Investment Holdings, may be limited, according to international sanctions lawyers.
The oligarch's stake in these companies is valued at a significant portion of his total assets, but accessing the funds could be challenging due to the ongoing sanctions. The report highlights the potential need for special licenses from the U.S. Treasury's Office of Foreign Assets Control and its UK counterpart, which could further complicate Fridman's financial situation.
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