National Security and Defence Council sanctions Russian-Ukrainian businessman
Pravda Ukraine
On 19 January, Ukraine’s National Security and Defence Council (NSDC) imposed personal sanctions on Russian-Ukrainian businessman Konstantin Grigorishin, including the freezing of his assets.
Source: a presidential decree issued by Volodymyr Zelenskyy
Details: Grigorishin, who once held significant assets in Ukraine, notably through the Energy Standard Group, had ownership stakes in several key companies. In 2019, he owned Zaporozhtransformator, the regional power distribution company Vinnytsiaoblenergo, and minority shares in regional power distribution companies in cities including Ternopil, Zaporizhzhia, Poltava, Chernihiv and Sumy, frequently in partnership with Ukrainian-born Israeli billionaire businessman Ihor Kolomoyskyi.
Zaporozhtransformator was nationalised in 2022.
As of 2024, Grigorishin retains his stakes in the regional power distribution companies in Vinnytsia, Chernihiv, Ternopil, Zaporizhzhia, Poltava and Sumy.
In 2021, Forbes Ukraine estimated Grigorishin’s net worth at US$275 million, with one of his most valuable assets being a collection of paintings that Lloyd’s valued at US$300 million a decade ago.
The sanctions freeze all of Grigorishin’s assets, paving the way for their nationalisation.
Additional measures include a ban on all trade transactions, preventing the transfer of capital abroad, the suspension of economic and financial obligations, the complete cessation of resource transit, flights and transportation across Ukrainian territory, a full or partial ban on transactions involving securities issued by the sanctioned individual, and a ban on the acquisition of land.
Background: Ukrenergo sued Grigorishin’s Luhansk Energy Association LLC for a UAH 100 million (approx. US$2,3 million) debt for services provided in occupied Luhansk Oblast between 24 February and June 2012.
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