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Alexei Mordashov, Russia’s richest man and largest shareholder of Severstal, one of Russia‘s biggest steelmakers, has been blacklisted by the Europe Union as of Monday.
Mordashov is also chair of Severgroup, which the EU said controls television stations that promote Moscow’s policies of destabilizing Ukraine. The EU also said Rossiya Bank, in which Mordashov is a shareholder, is the “personal bank” of senior Russian officials who have profited from the occupation of Crimea.
On Monday, the EU announced sanctions against presidential press secretary Dmitry Peskov and 24 other Russians, including politicians, businessmen, top managers and journalists close to Russian President Vladimir Putin.
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Mordashov became Severstal’s chief executive officer in 1996 at age 31 and has a net worth of about $21.9 billion, according to the Bloomberg Billionaires Index.
Mordashov said he doesn’t see how his sanctions will help settle the “dreadful conflict” in Ukraine, according to his statement to TASS, a Russian news agency.
“I have absolutely nothing to do with the emergence of the current geopolitical tension,” Mordashov said Monday. “I do not understand why the EU has imposed sanctions on me.”
Mordashov argued he has never been involved in politics and only has a hand in economic matters globally. Russia’s invasion has hit the country’s wealthiest hard: Business Insider reported Russia’s 22 richest people lost a combined $39 billion in 24 hours, and Mordashov lost $4.2 billion in one day.
On Wednesday, Severstal announced it was stopping deliveries in Europe because of the sanctions on Mordashov, according to the Moscow Times. The company delivers about 2.5 million tons of steel a year to Europe.
“We are redirecting the flows of raw materials to alternative world markets,” the company told the Moscow Times.
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Mordashov reiterated he has nothing to do with Russian politics and told TASS he hopes to see a stop to the war and bloodshed.
“What is happening in Ukraine is a tragedy for two fraternal nations. It is terrible that Ukrainians and Russians are dying, people are suffering hardships and the economy is collapsing. I sincerely hope a way can be found in the very near future to resolve this conflict and stop the bloodshed,” Mordashov told TASS.
