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Russian Billionaire Allies Of Sanctioned Oligarchs Step Down From LetterOne Investment Firm

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German Khan, Andrei Kosogov and Alexei Kuzmichev, who made their billions thanks to joint business dealings with Mikhail Fridman, announced on Monday their joint resignation from the board of the international holdings company LetterOne.

The EU sanctioned Aven, Fridman and four other billionaire Russian oligarchs last Monday, freezing their assets, including LetterOne’s Luxembourg home. On Thursday, LetterOne

Aven’s and Fridman’s resignations from the company. Aven, who is the head of Alfa Bank, and Fridman are among the wealthiest people in Russia, worth $4.7 billion and $12.4 billion, respectively, per’ estimates.

 

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