US freezes $640m of Russian billionaires’ assets

Billionaire Yuri Kovalchuk "Putin's personal banker"

Billionaire Yuri Kovalchuk “Putin’s personal banker”

US freezes $640m of Russian billionaires’ asset: Banks controlled by three billionaire friends of Russian President Vladimir Putin have seen about $640m of assets frozen in the U.S. in retaliation for the Kremlin’s actions in Ukraine, according to U.S. government records. The figures were published yesterday by The Wall Street Journal who obtained them from the US Treasury.Yuri Kovalchuk’s Bank Rossiya has had at least $572m blocked and a minimum of $65m has been frozen in SMP Bank, property of the Rotenburg brothers Arkady and Boris. The Obama administration has described Kovalchuk as Putin’s “personal banker”, while the Rotenburg brothers, childhood friends of Putin, have amassed fortunes through a series of state-awarded contracts.  

Source: vestifinance