U.S. sanctions Gleb Trotsenko, a key shareholder of ZCMC

The United States has expanded sanctions against Russia to further target individuals and entities, including businessman Gleb Trotsenko.

“The Department is designating the following individual pursuant to section 1(a)(i) for operating or having operated in the technology sector of the Russian Federation economy: Gleb Romanovich Trotsenko (Gleb Trotsenko),” the U.S. State Department said in a fact sheet.

Trotsenko is part of a wealthy Russian family believed to be close to Russian President Vladimir Putin, the document added.

The “black list” includes Trotsenko’s personal assets and investment instruments used by his family.

According to Pastinfo, Gleb Trotsenko is the son of Russian billionaire Roman Trotsenko, who was granted shares of Armenia’s mining giant Zangezur Copper-Molybdenum Combine (ZCMC) by Pashinyan's government after they were seized from their former owners.

Citing its sources, Pastinfo says Roman Trotsenko has handed over his shares in ZCMC to his son, and since April 2022 he is one of the company’s key shareholders. Thus, the U.S. sanctions may also affect ZCMC, Armenia’s largest taxpayer.

Pastinfo has reached out to the State Property Management Committee for comments on the matter.