Eugene Shvidler sanctioned by UK for ties to Russian regime
Beit Shvidler funder among 65 new Russian sanctions announced by the government on Thursday
Lee Harpin is the Jewish News's political editor
Billionaire oil tycoon Eugene Shvidler is amongst 65 new Russian sanctions announced by the UK government against a range of “key strategic industries and individuals.”
Foreign Secretary Liz Truss confirmed on Thursday that Shvidler, who has previously funded the Beit Shvidler Primary School, in Edgware, was on a new list of names meaning the UK has now sanctioned over 1,000 individuals and businesses under the Russia sanctions regime since the invasion of Ukraine began.
A close confidant of Chelsea Football Club owner Roman Abramovich, Shvidler has a net worth of around £2billion and is chairman of Millhouse Capital.
In July 2011 Shvidler was revealed to be the primary donor for the £4.2 million rebuilding project at Edgware Jewish Primary School.
The school said it was acknowledging Shvidler’s generosity by changing its name in 2012 to the Beit Shvidler Primary School.
It was London-based Shvidler’s first community project in the UK.
Shvidler made his fortune during the privatisation of Russian industry after the collapse of the Soviet Union .
A regular at Chelsea football games, he had previously provided backing for Jewish schools in Moscow and New York and is also involved in the Ir David Foundation for the preservation of the Old City of Jerusalem.
Six more banks have been targeted, including Alfa Bank whose cofounders include previously sanctioned oligarchs Mikhail Fridman, Petr Aven and German Khan, who were three of the four founders of the Genesis Philanthropy Group, which has funded communal organisations and initiatives in the UK.
The world’s largest diamond producer Alrosa is also sanctioned.
Also on the new list were Oleg Tinkov and Herman Gref, the CEO of Russia’s largest bank Sberbank, and Polina Kovaleva, Foreign Minister Lavrov’s step daughter.
Galina Danilchenko, who was installed by Russia as the ‘mayor’ of Melitopol is also sanctioned – the first time an individual has been sanctioned for collaboration with Russian forces currently in Ukraine.
The sanctions also target key industries supporting Russia’s invasion, including Russian Railways and defence company Kronshtadt, the main producer of Russian drones.
The Wagner Group – the organisation Russian mercenaries reportedly tasked with assassinating President Zelenskyy – has also been sanctioned.
Foreign Secretary Truss said: “These oligarchs, businesses and hired thugs are complicit in the murder of innocent civilians and it is right that they pay the price.
“Putin should be under no illusions – we are united with our allies and will keep tightening the screw on the Russian economy to help ensure he fails in Ukraine. There will be no let-up.
“All those sanctioned today will have their assets in the UK frozen which means no UK citizen or company can do business with them, and individuals subject to travel bans are also prohibited from travelling to or from the UK.
“Today’s sanctions will bring the total global asset value of the banks the UK has sanctioned since the invasion to £500 billion and the net worth of the oligarchs and family members in excess of £150 billion.
“The provisions brought in by the Economic Crime Act have streamlined the previous legislation so the UK can respond even more swiftly and effectively to the current crisis. The government will continue to tighten the screw and use sanctions to degrade the Russian economy on a scale that the Kremlin, or any major economy, has never seen before.
“The UK has led the international sanctions effort, cutting off whole sectors of the Russian economy by targeting its defence companies, its trade and transport sector, and working with allies to exclude Russia from the SWIFT financial system.”
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