Billionaire oligarch Mikhail Fridman has stepped down from the board of the company that owns Holland & Barrett, after he was accused of enabling Vladmir Putin in light of Russia’s invasion of Ukraine.
Fridman (57) is still a shareholder in the LetterOne investment company, which owns the parent company of popular health food chain.
Shortly after Russia’s invasion in Ukraine, the EU put him on sanctions and he resigned from LetterOne. He was banned from traveling within the EU and his assets were frozen in members countries.
The website has removed a profile of the LetterOne founder and no longer lists him under the section ‘Our People.
Fridman, along with other billionaires German Khan or Alexei Kuzmichev owns the Alfa Group and LetterOne investment companies.
Fridman was the UK’s 11th wealthiest man in The Sunday Times Rich List 2021, with a fortune of £10.9 billion. Forbes ranked him as the 128th wealthiest man in the globe in 2021.
The Russian father-of-five calls Britain his home after buying Athlone House in North London for £65million in 2016.
A Holland & Barrett spokesperson told MailOnline: ‘Our thoughts are with those affected by the situation in Ukraine. The company, which is UK-registered, has experienced a rapid growth over the past 150 years. It now operates in more than 1,600 shops and in operations in 19 other countries.
We aren’t affected by sanctions. As always, our focus is to support the well-being of both customers and colleagues.
EU sanctions have been placed on Mikhail Fridman, aged 57, in protest at Russia’s invasion Ukraine
Fridman, along with billionaires German Khan & Alexei Kuzmichev owns the Alfa Group as well as LetterOne investment companies. LetterOne is the owner of Holland & Barrett
Holland & Barrett is a registered UK business and is owned by L1Retail, which is a part of the LetterOne Group. Fridman is still a shareholder in the company.
Fridman, along with Petr Aven, his business partner and Everton’s linked financier Alisher Usmanov were placed on EU sanction lists.
The article described Fridman, a Russian top financier and enabler for Putin’s inner circle.
Fridman has been accused of being close with Putin, and using his Russian connections to purchase state assets.
Maria Putin, Vladimir Putin’s oldest daughter, was the founder of Alfa-Endo charity project. It was sponsored by Fridman’s Alfa Bank.
According to EU, Putin later rewarded Alfa Group with political support for its “foreign investments plans”.
The EU describes Aven (66) as Putin’s “closest Oligarch”. After serving as President Yeltsin’s trade minister, he joined Alfa Bank in 1990.
“He is among approximately 50 Russian businessmen who meet regularly with Vladimir Putin in Moscow,” the EU document stated.
Usmanov, now 68, has been described as ‘one Putin’s favorite Oligarchs’. Through sponsorship deals, Usmanov is also linked to Everton, after he was a large shareholder of Arsenal.
EU claims that Kremlin figures are claimed by the EU He ‘benefited from Mr Usmanov’s personal use of luxury residences’, and made $6 to Putin’s advisor Valentin Yumashev.
The Russian father-of-five calls Britain his home after buying Athlone House in North London for £65million in 2016
Although Fridman refused to condemn Putin and Russia during the invasion, he demanded that bloodshed be stopped over the weekend.
The war had been a tragedy for the people of both countries. He wrote LetterOne staff that conflict is driving wedge between Russia’s eastern Slav peoples and Ukraine’s Ukrainian Slav peoples. They have been close friends for many centuries.
He said, “I was raised in Western Ukraine. I lived there till my seventeenth year.” My Ukrainian-born parents reside in Lviv. It is my favourite city.
“But, I also have spent many of my time as a Russian citizen building and growing businesses. The current conflict is a tragic event for both the Russian and Ukrainian peoples.
Britain has not put Fridman or Aven under sanctions.
But, the Foreign Office prepares a hit list of Russian oligarchs for sanctions. This is in response to fears that conflict in Ukraine will last 10 years.
Liz Truss, Foreign Secretary said that there will be no place left for Vladimir Putin’s super-rich allies.
Boris Johnson named last week eight Russians with high net wealth who would be affected by asset and travel freezes.
The Home Office will also give the National Crime Agency more authority to investigate the issuing Unexplained wealth Orders in order to discover where the money came from.
Ms Truss stated that new names would be added to this list every few week as ministers try to intensify the pressure on Mr Putin in the wake of his invasion Ukraine.
Roman Abramovich is selling off his £200m London property portfolio within days to avoid having his assets frozen in case he is sanctioned by Britain, it was reported last night
Now Abramovich is said to be looking to offload his 15-bedroom mansion at Kensington Palace Gardens, valued at more than £150 million. It is located on the road between many embassies, and has security at both ends.
Abramovich also wants to offload a three-storey penthouse at Chelsea Waterfront, worth an estimated £22 million
According to sources, the Foreign Office is preparing for Russian aggression in the area for up to ten more years.
It comes as it was reported that Roman Abramovich is selling off his £200m London property portfolio within days to avoid having his assets frozen in case he is sanctioned by Britain.
The Raine Group is said to be an American bank that he instructed to sell Chelsea.
He vehemently denied that he was close to the Kremlin, or had done anything which would warrant sanctions against him
It is understood that the Russian is targeting American buyers as investment from China, the Far East and Eastern Europe has dried up for political reasons, although there are major doubts that any potential buyer will meet his £3billion valuation.
After talks between Silverlake, a US private equity firm, and Jim Ratcliffe (a British billionaire), The Raine Group was forced to act for Chelsea.
The club has effectively been for sale ever since due to Abramovich’s conflict with the UK government after the Home Office declined to issue him a visa, with Russia’s invasion of Ukraine giving him fresh impetus to sell.
Chelsea did not respond to our request for comment. Abramovich wants a minimum of £3billion to sell Chelsea as he invites bids for the club.
There are doubts, however, that the Russian oligarch could receive even a fraction of that sum.
Swiss billionaire Hansjorg Wyss, worth £4.3bn, claims he has been approached to consider buying Chelsea, potentially as part of a consortium.
Wyss stated to Blick Swiss Newspaper: “Like all other Oligarchs, (Abramovich), he is also panicking. Abramovich wants to sell his English villas. Abramovich also desires to quickly get rid of Chelsea. On Tuesday, Abramovich offered to purchase Chelsea for me and three others.
“I need to wait 4 to 5 days. Abramovich has been asking for too much. You know, Chelsea owe him £2bn.
‘As of today, we don’t know the exact selling price. With partners, I could easily imagine Chelsea as my first job. However, it is important to understand the conditions in general. What I can say is that this is not something I would do on my own. If I buy Chelsea, then with a consortium consisting of six to seven investors.’
Abramovich is also said to be looking to offload his 15-bedroom mansion at Kensington Palace Gardens, valued at more than £150 million, and a three-storey penthouse at Chelsea Waterfront, worth an estimated £22 million.