LONDON—The United Kingdom government has sanctioned four Russian oligarchs, including two officials connected to Tatarstan's major oil and petrochemicals tycoon TAIF Group, for their roles in supporting Moscow's war against Ukraine.
In a statement Nov. 2, the government said the sanctions were imposed on the four individuals for "their involvement in sectors of major significance to Putin's military machine."
According to the statement, Albert Shigabutdinov, who has an estimated global net worth of $1.1 billion, will be subject to travel bans, asset freezes and transport sanctions.
Shigabutdinov, the statement added, is "the general director and chief executive officer (CEO) of TAIF Group and controls an estimated 96 percent of chemical and petrochemical processing in the Tatarstan region of Russia."
According to the TAIF website, Albert Shigabutdinov is currently the principle development advisor to general director Ruslan Shigabutdinov.
With net worth of over $1 billion, Airat Shaimiev, TAIF co-owner and CEO of transport company Tatavtodor, also has been included in the sanctions and will be subject to travel bans, asset freezes and transport sanctions.