Two UK-based Russian oligarchs have shares in $22bn conglomerate frozen

Action taken upon Mikhail Fridman and Petr Aven by holding company that owns Holland & Barrett after EU imposed sanctions

UK-based Russian billionaire oligarchs Mikhail Fridman and Petr Aven have had their shares in $22bn (£17bn) conglomerate LetterOne, which owns Holland & Barrett, “frozen” days after they were slapped with European Union sanctions following the invasion of Ukraine.

LetterOne, which is just under 50% owned by Fridman and Aven, announced on Wednesday night that the men had “ceased to have any involvement with the company”.

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