It’s reported that President and Board Member of Volga-Dnepr Group, Mr. Alexei Isaikin (also known as Isaykin), has been added to the UK sanctions list against the Russian Government.

The updated list suggests that the Russian airline group has “significant air operations that is contracted by the Russian government to create air bridges that carry critical goods”.

It added that Mr. Isaikin is working “as a Director (or equivalent) of a company carrying on business in a sector of strategic significance (the transport sector) to the government of Russia, and therefore is or has been involved in obtaining a benefit or supporting the government of Russia”.

The sanctions imposed include an asset freeze and a travel ban.

Most of Volga-Dnepr’s aircraft have been grounded of late, but we have recently reported some aircraft still flying medical provisions across the globe.

Volga-Dnepr President Alexei Isaikin

Asset freeze
An asset freeze prevents any UK citizen, or any business in the UK, from dealing with any funds or economic resources which are owned, held or controlled by the designated person. UK financial sanctions apply to all persons within the territory and territorial sea of the UK and to all UK persons, wherever they are in the world. It also prevents funds or economic resources being provided to or for the benefit of the designated person.

Travel ban
A travel ban means that the designated person must be refused leave to enter or to remain in the United Kingdom, providing the individual is an excluded person under section 8B of the Immigration Act 1971.

Transport sanctions
Recently introduced powers make it a criminal offence for any Russian aircraft to fly or land in the UK, and give the government powers to remove aircraft belonging to designated Russian individuals and entities from the UK aircraft register, even if the sanctioned individual is not on board. Russian ships are also banned from UK ports.

Print Friendly, PDF & Email
blank
blank

Leave a Reply