UK removes Russian bankers from sanctions list

In July 2023, the United Kingdom lifted sanctions against two russian bankers: former Deputy Chairman of Sberbank Lev Khasis and Tinkoff Bank founder Oleg Tinkov. The businessmen appealed against the allegedly unfair imposition of restrictions on their assets. Tinkov openly condemns Russia's full-scale invasion of Ukraine, which was sufficient grounds for his removal from the sanctions lists, and Lev Khasis resigned from Sberbank and left Russia, thus denying his support for the Putin regime. 

It is known that such results of the appeal were made possible with the support of British entrepreneurs, such as Richard Branson. The need to maintain and service the assets of the Russian oligarchs, as well as to ensure their residence abroad, was also a significant factor in the lifting of sanctions. Lev Khasis' lawyers argue that the sanctions constitute an unlawful interference with his rights under the European Convention on Human Rights.

Such precedents show that it is only a matter of time before the sanctions policy is overturned. The mechanism needs more control and verification of its effectiveness.

Source: Financial Times