Russia's wealthiest man - worth almost $22 billion - hit by EU sanctions because of his ties to Putin, Russian officials

A lexei Mordashov, Russia's richest man and largest shareholder of Severstal, one of Russia‘s biggest steelmakers, has been blacklisted by the Europe Union as of Monday.

Mordashov is also chair of Severgroup, which the EU said controls television stations that promote Moscow’s policies of destabilizing Ukraine.

The EU also said Rossiya Bank, in which Mordashov is a shareholder, is the “personal bank” of senior Russian officials who have profited from the occupation of Crimea.

On Monday, the EU announced sanctions against presidential press secretary Dmitry Peskov and 24 other Russians, including politicians, businessmen, top managers

Mordashov became Severstal’s chief executive officer in 1996 at age 31 and has a net worth of about $21.9 billion, according to the Bloomberg Billionaires Index.

Mordashov said he doesn't see how his sanctions will help settle the "dreadful conflict" in Ukraine, according to his statement to TASS, a Russian news agency.

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