Agency Report
Russian billionaire Alexei Mordashov resigned on Wednesday from the supervisory board of the world’s largest tourism operator TUI after he was hit by EU sanctions over Moscow’s invasion of Ukraine.
Mordashov, a major shareholder in TUI, has resigned “with immediate effect”, the German group said in a statement.
“The aim of the EU sanctions is to prevent Mr Mordashov from disposing of his shares in TUI” and “from realising any proceeds or profits from his investment,” the company said.
The EU on Monday added Mordashov to its list of individuals to be sanctioned due to their close ties with Russian President Vladimir Putin in response to Russia’s invasion of Ukraine.
Those affected have been hit by asset freezes and a travel ban.
