Connect with us

Hi, what are you looking for?

Jewish Business News

World News

Viktor Vekselberg Another Russian Jewish Oligarch under Sanctions

Viktor Vekselberg

Viktor Vekselberg

The Russian Jewish oligarch Viktor Vekselberg has been personally financially sanctioned by the U.S. government. The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued sanctions targeting Russian and Kremlin elites, oligarchs, and Russia’s political and national security leaders who it says have supported Russian President Vladimir Putin’s “brutal and illegal” invasion of Ukraine.

Viktor Vekselberg was born to a Jewish father and a Russian mother in Ukraine in 1957. In 1990, he co-founded Renova Group, a Russian energy concern, with college classmate, Leonard Blavatnik. He made a fortune from the privatization of the aluminum industry in Russia in the 1990s. In 1996, he co-founded the Siberian-Urals Aluminium Company (SUAL) via a merger of the Ural and Irkutsk Aluminum Plants.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

He is also an art collector and philanthropist. Viktor Vekselberg donated $4.5 million to the construction of the $50 million Jewish Museum and Tolerance Center in Moscow, and is the chairman of the museum’s board of trustees. He finances the restoration and construction of synagogues in Russia, including the construction of the Choral Synagogue in Saratov. In 2019, a monument was opened in Moscow to commemorate resistance heroes in concentration camps and ghettos. Vekselberg donated $300,000 to its creation.

But now his money is no longer wanted in certain areas. For example, the famed Tate museum in London cut its ties relations with Viktor Vekselberg, who was an honorary member of the prestigious fundraising arm of the museum the Tate Foundation. The Guardian quoted the Tate as saying, “Mr Vekselberg donated to Tate seven years ago and no longer holds his honorary membership title.”

In addition to Viktor Vekselberg, the move designated regime elites and business executives who are associates and facilitators of the Russian regime, including three immediate family members of President Putin’s spokesperson, Dmitriy Sergeevich Peskov and the Management Board of the sanctioned VTB Bank. Additionally, OFAC designated 12 members of the Russian State Duma, including Vyacheslav Victorovich Volodin, who is also a permanent member of Russia’s Security Council.

“Today’s designations further hold to account those actors who were directly responsible for Russia’s illegitimate and unlawful recognition and facilitating the sham pretext used by Putin to justify the … unprovoked war against Ukraine,” the Treasury said.

“Treasury continues to hold Russian officials to account for enabling Putin’s unjustified and unprovoked war,” said Secretary of the Treasury Janet L. Yellen. “Today’s actions also further isolates the severely damaged Russian economy by prohibiting trade in products that are key to the economic and financial interests of all Russian elites.”



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 Movie The Professional is what made Natalie Portman a Lolita.


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...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.