On 8 February 2023 Alexey Repik, the founder of R-Pharm – Russian pharmaceutical company, producing, among other things, drugs for COVID-19 (e.g. coronavir (favipiravir) and artlegia (olokizumab)) was listed in the UK Sanctions List1.
Reasoning behind this decision is that he holds the position of the Chairman of the Board of R-Pharm, which receives financing from the Russian Direct Investment Fund – a Government of Russia-affiliated entity. Moreover, Alexey Repik is also designated as a person associated with Vladimir Putin, the Russian President.
Enlisting Alexey Repik in the UK Sanctions List entails the following consequences for him:
- freeze of accounts and other funds or economic resources which are owned or controlled by him
- other persons should refrain from dealing with his funds or assets or making them available (directly or indirectly) to him, unless they are licensed by the OFSI
All individuals and legal entities who are residents of or undertake activities within the UK's territory must comply with UK financial sanctions that are in force2. Failure to comply with above restrictions, as well as failure to provide any information concerning the frozen assets of persons included in UK Sanctions List that OFSI may entails criminal liability under UK laws.
However, according to Russian official resources3, Alexey Repik does not own shares in R-Pharm directly or indirectly, which means that funds and assets of the company are not subject to the mentioned consequences, unless it is established by OFSI directly that Alexey Repik exercises control over R-Pharm4.
1 https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1135111/Notice_Russia_080223.pdf
2 https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1100...
3 Federation SPARK and trade register (EGRUL).
4 https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1100991/General_Guidance_-_UK_Financial_Sanctions__Aug_2022_.pdf