Former Minister Mikhail Zadornov Wins His Reputation Back from America at 62 0 10

The U.S. Department of the Treasury has removed former Russian Finance Minister and ex-head of the bank "FC Otkritie" Mikhail Zadornov from the sanctions list. The corresponding announcement was published on the agency's website.

The U.S. imposed blocking sanctions against the bank "Otkritie" in February 2022, following the start of the military operation in Ukraine. In April, Zadornov, who was then the chairman of the financial organization, was included in the list of sanctioned individuals. In May, the United Kingdom also imposed sanctions against him. In December, the banker left his position.

In August 2024, the former Russian minister filed a lawsuit in the U.S. District Court for the District of Columbia, challenging the legality of the sanctions decision. In particular, Zadornov noted that he could not leave the bank immediately due to a five-year contract and the need to complete necessary affairs.

He also pointed out the lack of connections with the Russian government and the ability to influence the actions of the authorities. Zadornov stated that he is neither an opponent nor a threat to U.S. national security.

Zadornov noted that his former colleagues at "FC Otkritie," as well as top managers of other Russian banks, were removed from the sanctions lists after resignations and the submission of relevant petitions.

Mikhail Mikhailovich Zadornov (born May 4, 1963, Moscow) is a Russian economist and statesman, former chairman of the bank "FC Otkritie," Minister of Finance of Russia from 1997 to 1999, and a deputy of the State Duma of the Federal Assembly of the Russian Federation of the I-IV convocations. He was awarded the Order of Honor for Services to the Fatherland, IV class, and a Certificate of Honor from the Government of Russia.