Ukraine sanctions tycoon Firtash for business links to Russian defence firms
21 Jun 2021

Ukraine imposed sanctions on tycoon Dmytro Firtash on Friday for selling titanium products that allegedly end up being used by Russian military enterprises.

President Volodymyr Zelenskiy’s security and defence council said the exact nature of the sanctions would be announced separately in a presidential decree.

A spokesman for Firtash was not immediately available for comment.

Firtash rose to become a wealthy and influential businessman in Ukraine but has been indicted in the United States on bribery and racketeering charges. He denies wrongdoing and has fought extradition from Vienna.

Relations between Ukraine and Russia collapsed after Russia’s annexation of the Crimea peninsula in 2014 and support for separatist forces in the eastern Donbass region in a conflict that Kyiv says has killed 14,000 people.

Firtash was being sanctioned for “his involvement in the titanium business,” the security council secretary Oleksiy Danilov told a briefing.

“There is a supply of raw materials and then … it goes to the military enterprises of the Russian Federation and we cannot allow this to continue,” he said, without providing specifics.

Zelenskiy has promised action to reduce the influence of oligarchs on Ukraine.

By Pavel Polityuk, Reuters, 18 June 2021

Read more at Reuters

RiskScreen: Eliminating Financial Crime with Smart Technology

You can claim CPD minutes for this content, by signing up to our CPD Wallet