Sanctions complicating work for Russia’s top businesses

Western sanctions over the Ukraine crisis could force some executives at Russian firms with foreign passports to give up certain duties, complicating life at the top of some of the country’s largest companies.

US and EU sanctions bar some major Russian firms from raising new Western financing of more than 90 days. They also ban US or EU nationals and companies from providing services related to the organisation of long-term funding for the companies, regardless of where it comes from.

Out of the companies on the sanctions lists, Reuters has identified some with senior managers holding a Western passport, including energy firm Novatek, top lender Sberbank, No 2 bank VTB and oil major Rosneft.