Page 17 - RusRPTJul22

2.4 Dmitry Konov, the Russian executive appealing against sanctions
Dmitry Konov, the former CEO of Russian petrochemicals manufacturer Sibur, is filing an appeal against the sanctions placed on him by the European Union, according to a statement from the European Court of Justice.
Konov is not the first Russian to contest the sanctions brought against him. Recently, the former head of Alfa Bank and LetterOne Group Pyotr Aven announced that he would also appeal against his sanctions by the EU, describing them as “spurious and unfounded”.
Konov is part of a group of executive innovators who have reformed post-Soviet private companies into high-performing players. Their inclusion in the sanctions list, alongside oligarchs and the bosses of state companies, is more controversial, as they argue they are not complicit in the system and have nothing to do with its war in Ukraine.
A year ago, Konov was seen as one of the most successful executives in the global petrochemicals industry. He was preparing Sibur, Russia’s leading plastics manufacturer, for an IPO which could have valued it at upwards of $22bn. Konov had made a name for himself by pushing for Western ESG standards and modern disclosure and management practices, and had struck partnerships with foreign companies.
Then in March 2022, he was added to the EU sanctions list. After 15 years at the helm, Konov was forced to step down from his role as CEO of Sibur.
17 RUSSIA Country Report October 2020 www.intellinews.com