Mikhail Gutseriev Once Again Subject to EU Sanctions

The European Union has once again placed Mikhail Gutseriev—a Russian billionaire of Ingush descent and founder of the Safmar industrial-financial group—on its sanctions list. These restrictions were introduced as part of the 21st sanctions package adopted in response to Russia's war against Ukraine.

The 68-year-old Gutseriev ranks 25th on the Forbes list of Russia's wealthiest businessmen, with a net worth estimated by the magazine at $7.7 billion. He holds assets in the oil, coal, financial, construction, and hospitality sectors and is also the lyricist behind hundreds of popular songs.

This is not the first time Mikhail Gutseriev has faced EU sanctions. In June 2021, the EU added him to the sanctions list due to his alleged ties to the regime of Belarusian President Alexander Lukashenko. These restrictions were subsequently extended several times. In 2025 and 2026, the General Court of the European Union ruled in Gutseriev's favor, declaring certain decisions to extend the sanctions unlawful.

In addition, the UK, Canada, Switzerland, Australia, New Zealand, and Ukraine had previously imposed restrictions on the businessman.

In total, the new package sanctions 48 individuals and 170 organizations—marking the largest expansion of the EU sanctions list in the past four years.

Alongside Gutseriev, those facing restrictions include Russian Sports Minister Mikhail Degtyarev, Presidential Aide Vladimir Medinsky, Gazprom-Media head Alexander Zharov, International Chess Federation (FIDE) President Arkady Dvorkovich, Russian Railways CEO Oleg Belozerov, singer Alexander Marshal, and others. Sanctions also affected a number of Russian banks, including Kuban Credit, Yug-Investbank, Center-invest, RostFinance, and Nokssbank. In addition, the list included the airports of Rostov-on-Don and Mineralnye Vody, as well as several enterprises in southern Russia, including KNG-Mashzavodservis, Aluminium Metallurg Rus, the Krasny Oktyabr metallurgical plant, the Elektroavtomatika plant, the Kalmyk Oil and Gas Company, Aquamarine Ship Management, and the seaport of Olya in the Astrakhan region.

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