Boris Yurievich KOVALCHUK

Designation identifiers

UKSL unique ID

RUS0851

OFSI group ID

14802

Designation type

Individual

Date designated

15 March 2022

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

• There are reasonable grounds to suspect that Boris KOVALCHUK is associated with Yuri KOVALCHUK. Boris KOVALCHUK is the son of Yuri KOVALCHUK (RUS0007). Yuri KOVALCHUK has been designated by the UK since 31 December 2020 (updated 18/12/2021) and is a long-time acquaintance of President Putin. He is a co-founder of the so-called Ozero Dacha, a cooperative society bringing together an influential group of individuals around President Putin. He is the chairman and largest shareholder of Bank Rossiya, of which he owned around 38% in 2013, and which is considered the personal bank of Senior Officials of the Russian Federation. Since the illegal annexation of Crimea, Bank Rossiya has opened branches across Crimea and Sevastopol, thereby consolidating their integration into the Russian Federation. Furthermore, Bank Rossiya has important stakes in the National Media Group which in turn controls television stations which actively support the Russian government’s policies of destabilisation of Ukraine The trust services sanctions were imposed on 21/03/2023.

Other information

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