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Ukraine sanctions Russian tycoons, news agency RIA

May 24, 2018, 7:27 AM EDT
Russian tycoon Oleg Deripaska
(Source: http://en.kremlin.ru)

In a move that mirrors the recent U.S. action against officials and businesspeople loyal to Moscow, Ukraine has blacklisted Russian state news agency RIA Novosti and several Russian businessmen, including Oleg Deripaska, who runs a large alumina company in the country.

The repercussions of the new sanctions might not be very high in magnitude as many Russian companies are already in the process of wrapping up their business activities in Ukraine after initial wave of restrictions, notes Reuters.

Russia is working on a law that would result in people being jailed for assisting the enforcement of U.S. sanctions on Moscow but such a legislation may hurt Russian economy, according to German Gref, the head of Russia's biggest bank Sberbank, writes The Moscow Times.

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