In the latest move against Russian leader Vladimir Putin, the US has imposed sanctions on his two adult daughters, Katerina and Maria.
But why do the two sisters now have targets on their backs?
Hiding Putin’s Wealth
Well, that’s because the US believes that they are hiding Putin’s supposedly massive wealth.
“We have reason to believe that Putin, and many of his cronies, and the oligarchs, hide their wealth, hide their assets, with family members that place their assets and their wealth in the US financial system, and also many other parts of the world,” a senior US administration official told reporters.
“We believe that many of Putin’s assets are hidden with family members, and that’s why we’re targeting them,” the official said.
Tech Executive and Genetics Research Head
According to details in the US sanctions package announced on Wednesday (6 Apr), Putin’s daughter Katerina Vladimirovna Tikhonova is a tech executive whose work supports the Russian government and its defence industry.
His other daughter Maria Vladimirovna Vorontsova leads government-funded programmes that have received billions of dollars from the Kremlin toward genetics research, and are personally overseen by Mr Putin.
The sanctions also include the daughter and wife of Russian foreign affairs minister Sergei Lavrov.
“Atrocities” in Bucha
Recently, the US banned Americans from investing in Russia, and targeted Russian financial institutions and Kremlin officials.
This comes after the attack on civilians in Bucha, north of Kyiv which US President Joe Biden deemed as “atrocities”.
Russia denies intentionally attacking civilians and says images of bodies in Bucha were staged to justify more sanctions against Moscow.
Putin’s Wealth Unknown
The real question though is just how much does Putin own?
In fact, the extent of his wealth is a sensitive subject in Russia. The Kremlin last year denied that he was the owner of an opulent palace on the Black Sea, as alleged by opposition politician Alexei Navalny in a video that drew a huge audience on YouTube.
Kremlin spokesman Dmitry Peskov said in February that sanctions introduced against Putin himself were pointless.
“(Putin) is quite indifferent. The sanctions contain absurd claims about some assets,” Peskov said. “The president has no assets other than those he has declared.”
But of course, the US doesn’t believe that.
“Putin and his oligarchs stow their dirty money in rule-of-law nations by purchasing mansions, mega-yachts, artwork, and other high-value assets,” US Senator Sheldon Whitehouse said a few weeks ago.
He had also introduced legislation that offered cash rewards for information that leads to the seizure of assets held by sanctioned Russian oligarchs.
Daughters’ Lives are Very Private
While the US might have imposed sanctions on Putin’s daughters, they have actually never confirmed publicly that the Russian leader is their father, and he has refused to answer questions about them.
According to Putin’s official biography on the Kremlin’s web site, his daughter Maria was born in 1985 before the family moved to Dresden, where Mr Putin served as a KGB agent.
The second daughter, Katerina, was born the next year in Dresden. The only known photo of the women shows them as little girls, with bows in blond braids.
In rare remarks over the years, Putin has disclosed that his daughters received their university education in Russia, speak several European languages and live in Russia. Putin also has grandchildren.
Professional Acrobatic Rock and Roll Dancer
Though much is unknown about them, Putin’s younger daughter Katerina was reported to be a professional acrobatic rock and roll dancer, who has taken part in prestigious international competitions.
Videos from those tournaments show her wearing glistering fitted costumes, stepping onto her partner’s hands and being catapulted into the air for flips and somersaults.
“Katerina, 29, described herself as the spouse of Kirill Shamalov, son of Nikolai Shamalov, a longtime friend of President Putin,” a Reuters investigation found.
Her father-in-law is a shareholder in Bank Rossiya, which US officials have described as the personal bank of the Russian elite.
As husband and wife, Kirill and Katerina had corporate holdings worth about US$2 billion (S$2.72 billion), according to estimates provided to Reuters by financial analysts. This was in addition to other property and assets.
Involved in Genetic Research Work
Meanwhile, Putin’s elder daughter Maria studied biology at St. Petersburg University and medicine at Moscow State University, according to the Reuters investigation.
She is also heavily involved in genetic research work, which Putin has in the past described as a field that will “determine the future of the whole world.”
According to Russian and Western media reports, Maria married Dutch businessman Jorrit Joost Faassen.
She was pursuing a biomedical career specialising in the endocrine system in 2015, as a doctoral candidate at the Endocrinology Research Centre in Moscow, and is the co-author of a book about “idiopathic stunting” in children.
Her husband used to work for Gazprombank, a large lender with strong links to the elite around Mr Putin, the report noted.
However, no estimates were immediately available for their assets and holdings.
So the question remains, how much is Putin’s net worth and is the US sanction simply a pot shot or are his daughters really holding on to their father’s wealth?
Featured Image: Sasa Dzambic Photography / Shutterstock.com