Connect with us

Hi, what are you looking for?

Jewish Business News


Rotenberg Brothers, Putin’s Billionaire Judo Buddies, Thrown by US Sanctions

Arkady Rotenberg has transferred assets to his son to prevent them from being frozen

U.S. sanctions appear to be having an effect on government and individual Russians’ finances, if not on actual policies of the Putin regime. Billionaires in Putin’s inner circle are being hit hard, according to the Wall Street Journal. 

Banks owned by Yuri Kovalchuk and Arkady and Boris Rotenberg have seen $640 million total assets frozen in the U.S. as punishment for Russia’s action in Ukraine. The lion’s share of frozen assets is owned by Kovalchuk’s Bank Rossiya which has $527 million worth of assets blocked, comprising 10% of its total assets. Arkady and Boris Rotenberg, childhood friends and judo buddies with Putin, have $65  million U.S. assets frozen or 3% of the total.

While sanctions are taking a bite out of Russia’s economy, the country doesn’t show signs of pulling out of Ukraine. Arkady Rotenberg has lost $300 million since the sanctions were imposed, and his current worth is $1.9 billion. He divested from some Russian companies and has moved a number of assets to his son Igor to avoid having them frozen.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The contract signed between the Israeli government and Pfizer shows clearly and unequivocally that this is a clinical study on humans - The agreement...


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...


Now Platika joins and elite club of $10 billion plus Israeli firms.