Poland freezes Russian oligarch’s stake in fertilizer maker

Poland announced Tuesday that it has frozen a stake owned by a prominent Russian oligarch in Polish fertilizer maker Grupa Azoty.

Noting that the move aims to eliminate Russia’s presence in the Polish economy, Minister of Development and Technology Waldemar Buda said on Twitter that he consulted with the relevant authorities and decided to appoint a temporary administrator to take control of Viatcheslav Kantor’s shares.

Kantor, who is already on the European Union’s sanctions list, is known for being a close associate of Russian President Vladimir Putin, according to the Polish state-run PAP news agency.

Kantor is 153rd in Forbes ranking of the richest people in the world in 2023.

A dual citizen of Russia and Britain who had been living in London for over a decade, Kantor was forced to resign as president of the European Jewish Congress in April last year after Britain imposed sanctions on him over his involvement with Putin’s government.

In April 2022, Poland imposed sanctions on 35 Russian firms, including energy giant Gazprom, and 15 individuals over the Kremlin’s full-scale invasion of Ukraine.

The Polish government said at the time that the main punitive measure would be “a freeze on the finances and wealth” of the listed entities.

The list included Acron Group, one of the world’s leading fertilizer makers, and its head Kantor.