Russian Jewish billionaires vow to contest EU sanctions

Russian billionaire Mikhail Fridman, whose LetterOne investment firm owns Spain’s Dia supermarket chain, says he will contest the “unfounded” EU sanctions targeting him over Russia’s invasion of Ukraine.

In a joint statement, Fridman and Russian banker Petr Aven, a LetterOne co-founder, insist they have “no financial or political relationship” with Russian President Vladimir Putin or the Kremlin.

The two say they “will contest the spurious and unfounded basis for the imposition of these sanctions — vigorously and through all means available to them — to reverse unwarranted and unnecessary damage to the livelihoods and prosperity” of their employees and business partners.

Fridman and Aven, who both hail from Jewish families, are two of the co-founders of the Genesis Philanthropy Group, which hands out the annual Genesis Prize.

Israeli ministers have reportedly been warned by both Israel and the US against providing aid to sanctioned Russian oligarchs in attempting to circumvent international sanctions.