Fridman stepped down from the board of the investment firm he co-founded. Fridman was not allowed to speak to employees at LetterOne. The EU imposed sanctions on the billionaire in response to Russia's invasion of Ukraine. Russian billionaire and banker, Mikhail Fridman, was locked out of the investment firm he co-founded after he was hit by European Union sanctions. LetterOne said in a press release that Fridman and Aven had stepped down from the company's board and would no longer have any dealings with the group. Mervyn Davies told the Financial Times that employees are not allowed to speak to Fridman. LetterOne has locked Fridman out of its offices and blocked him from having access to documents, according to Davies. The assets of Fridman were effectively frozen and his rights as a shareholder were taken away. LetterOne said that he wouldn't receive dividends, funds or communications. Fridman has no involvement in the day-to-day management or decision-making of LetterOne and appropriate arrangements have been put in place to give effect to this, according to a company spokesman. The EU imposed sanctions on Fridman as part of a package of responses to Russia. Western sanctions aim to cripple Russia's economy, and one of the many Russians targeted is Fridman. LetterOne says the board isn't obligated to give shareholder rights back to Fridman if the EU sanctions are lifted. One of the first Russian business leaders to speak out against the invasion of Ukraine was Fridman, who has a net worth of $10 billion. In a letter to LetterOne employees, Fridman said that war can never be the answer and that this crisis will cost lives and damage two nations who have been brothers for hundreds of years. LetterOne, which describes itself as an international investment business led by successful entrepreneurs and former CEOs, held $22.3 billion in net assets as of 2020, according to its website. The original article is on Business Insider. Young Russian elites are advocating for peace in Ukraine on social media, highlighting the generational divide that threatens Putin's power in Russia. Six Democrat lawmakers have accused Amazon of keeping workers in the dark about their rights. They saw that it worked. Almost every house in the neighborhood has it. I get a lot of thanks for my method. Ahead of a House panel meeting on whether members of Congress and their spouses should be barred from trading stocks, there was a disclosure. After a judge granted her permission to return to her maiden name, Kim removed her social media accounts and last name. Meyer was found dead in a dormitory. A high-interest account allows you to earn compound interest, while still having full access to your money. 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