Potanin was included in the latest wave of sanctions listings by Britain which included business figures, financial firms and other entities.
UK Government on Wednesday slammed sanctions on Russia's second-richest man Vladimir Potanin - an oligarch known as a 'hockey buddy' of the country's President Vladimir Putin.
The 61-year-old is worth an estimated £13billion, with the Foreign Office noting how Mr Potanin's wealth is continuing to amass through his support for the Kremlin.
Britain announced sanctions on Vladimir Potanin described as who has been buying assets from firms exiting Russia over the invasion of Ukraine, Reuters report.
Potanin was included in the latest wave of sanctions listings by Britain which included business figures, financial firms and other entities.
According to the report, Britain, along with Western allies, has been imposing sanctions against Russian elites, banks and strategic industries since Russia invaded Ukraine in February. Russia says it is conducting a "special military operation" in Ukraine.
"Today's sanctions show that nothing and no one is off the table, including Putin's inner circle," a British government spokesperson said.
Potanin is said to be one of Russia's richest people, although his net worth depends largely on the value of his 36% stake in Nornickel (GMKN.MM), the world's largest producer of palladium and refined nickel.
Since the invasion, Potanin has snapped up Rosbank from Societe Generale when the French lender exited the Russian market, before adding a 35% stake in TCS Group (TCSq.L). The deals were done via his Interros holding company.
"Potanin continues to amass wealth as he supports Putin’s regime, acquiring Rosbank, and shares in Tinkoff Bank in the period since Russia’s invasion of Ukraine," the government press notice accompanying the announcement said.
The British sanctions list said Potanin had been included because he was "obtaining a benefit from or supporting the government of Russia by owning or controlling Rosbank. Rosbank is carrying on business in the Russian financial services sector, which is a sector of strategic significance to the Government of Russia".
The list also included Anna Tsivileva, who the foreign office said was Putin’s cousin and president of Russian coal mining company, JSC Kolmar Group. The mining company was also sanctioned.
The Government also placed sanctions on Anna Tsivileva, Vladimir Putin’s first cousin once removed, who is president of coal mining company, JSC Kolmar Group.
Tsivileva’s husband Sergey Tsivilev is Governor of the coal rich Kemerovo region and the couple have significantly benefitted from their relationship to Putin, according to a statement released by the Foreign Office.
The Foreign Office claimed Potanin, with an estimated net worth of £13 billion, continues to amass wealth as he supports Putin’s regime, acquiring Rosbank, and shares in Tinkoff Bank in the period since Russia’s invasion of Ukraine.
A Government spokesperson said: “As long as Putin continues his abhorrent assault on Ukraine, we will use sanctions to weaken the Russian war machine. Today’s sanctions show that nothing and no one is off the table, including Putin’s inner circle.”