Yuriy Valentinovich Kovalchuk

Designation identifiers

UKSL unique ID

RUS0007

OFSI group ID

13075

Designation type

Individual

Date designated

31 December 2020

Last updated

9 April 2025

Regimes

• The Russia (Sanctions) (EU Exit) Regulations 2019

Designation sources

• UK

Sanctions imposed

• Asset freeze
• Travel Ban
• Trust Services Sanctions
• Director Disqualification Sanction

Official reasons

• Mr Kovalchuk is a long-time acquaintance of President Putin and co-founder of the so-called Ozero Dacha, a cooperative society bringing together an influential group of individuals around President Putin. This includes close association to other involved persons. As the chairman and largest shareholder of Bank Rossiya, which is a key stakeholder in the National Media Group, Kovalchuk has actively supported actions which are undermining and threatening the territorial integrity, sovereignty and independence of Ukraine. This includes National Media Group support of Russian policy which is destabilising Ukraine; the formation of bank branches and provision of insurance and investment throughout Crimea and Sevastopol; and support to military activities and the formation of major transport links. Through these actions Kovalchuk is providing financial services and economic resources which are contributing to the destabilisation of Ukraine and undermining the territorial integrity of Ukraine, thereby consolidating the integration of Crimea into the Russian Federation. The trust services sanctions were imposed on 21/03/2023.

Other information

• The Director Disqualification Sanction was imposed on 09/04/2025.

Addresses

• Country: Russia