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He is the Russian oligarch who stepped in to keep travel firm Tui afloat, pumping in cash as international tourism came to a standstill during the pandemic.
However, Alexei Mordashov – who owns a third of Europe’s biggest tour operator and is its largest single shareholder – may be becoming something of a liability for Tui, whose shares are listed in London, after the EU added him to its sanctions list on Monday night.
While Mordashov has not been sanctioned in the UK, his business interests in the region will now be severely curtailed.
The EU has outlined various concerns about Mordashov: it claims that Rossiya Bank, in which he has a financial interest, is the “personal bank” of senior Russian officials who have benefited from the annexation of Crimea. The bloc also said it believes media businesses he is invested in had helped destabilise Ukraine through pro-Russian television stations.
Russia’s richest man, 56-year-old Mordashov rose from humble origins as the son of mill workers in the city of Cherepovets, 300 miles north of Moscow, to become the chief executive of Russia’s largest steel and mining company, Severstal.
However, Alexei Mordashov – who owns a third of Europe’s biggest tour operator and is its largest single shareholder – may be becoming something of a liability for Tui, whose shares are listed in London, after the EU added him to its sanctions list on Monday night.
While Mordashov has not been sanctioned in the UK, his business interests in the region will now be severely curtailed.
The EU has outlined various concerns about Mordashov: it claims that Rossiya Bank, in which he has a financial interest, is the “personal bank” of senior Russian officials who have benefited from the annexation of Crimea. The bloc also said it believes media businesses he is invested in had helped destabilise Ukraine through pro-Russian television stations.
Russia’s richest man, 56-year-old Mordashov rose from humble origins as the son of mill workers in the city of Cherepovets, 300 miles north of Moscow, to become the chief executive of Russia’s largest steel and mining company, Severstal.
Alexei Mordashov: Russia’s richest man is now an EU sanctions target
Oligarch has investments ranging from London-listed travel giant Tui to the ‘personal bank’ of senior Russian officials
www.theguardian.com