EU Reimposes Sanctions on Russian Oil Billionaire Mikhail Gutseriev

The European Union announced a new sanctions package on 23 July that targets Russian oil billionaire Mikhail Gutseriev and his Safmar Group, including the RussNeft and Neftisa companies. The measures add 48 individuals and 35 entities to the list and extend restrictions to nearly 100 vessels linked to Russia’s shadow fleet, tightening controls on the financial, energy, and dual‑use sectors. Other Russian officials sanctioned include Sports Minister Mikhail Degtyarev, presidential aide Vladimir Medinsky and FIDE President Arkady Dvorkovich.

The same EU package also sanctions the Russian state‑owned utility Inter RAO, whose subsidiaries own key electricity assets in Georgia such as the Telasi distribution network and the Khrami hydro‑power plants. Georgian energy experts argue the sanctions create an opportunity for Georgia to repurchase these strategic assets, emphasizing the need for energy self‑sufficiency and reduced dependence on a neighbouring state.

The sanctions aim to curb revenue streams that support Russia’s war in Ukraine while prompting affected countries like Georgia to reconsider ownership of critical infrastructure.