UK sanctions on Russia’s richest man have fueled fears over metal supplies

V. Potanin, whose net worth is according to „Bloomberg“ the index of billionaires reaches 37.1 billion. dollars, has so far largely managed to avoid Western sanctions imposed on other members of the Russian elite. Canada sanctioned him in April.

It is not clear whether sanctions V. Potaninui will also include Nornickel, one of the world’s largest producers of nickel, palladium and copper. V. Potaninas is the top manager of Nornickel and controls more than 30% through his investment company Interros. company shares. Palladium rose as much as 7.7 percent after this news, while nickel prices jumped 9.2 percent.

That’s it, kai Russia invaded Ukraine, Potanin bought several major private Russian banks, including Rosbank PJSC, which he bought from Societe Generale SA. The billionaire also bought a stake in Tinkoff Bank from its founder Oleg Tinkov, who claims he was forced to sell after he criticized the war.

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