UK Sanctions Richest Russian, Sparking Metal Supply Fears
- Unclear if sanctions extend to mining giant Norilsk Nickel
- Nickel and palladium prices jump amid concerns about supplies
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The UK government imposed sanctions on Vladimir Potanin, Russia’s richest man and the president of MMC Norilsk Nickel PJSC, in the latest escalation of economic measures against Moscow.
Potanin, whose net worth is $37.1 billion according to the Bloomberg Billionaires Index, has until now largely avoided western sanctions that have been imposed on other members of the Russian elite. He was sanctioned by Canada in April.