The European Union has sanctioned the Russian state-controlled company Inter RAO, which indirectly owns Telasi and KhramHPP 1/2.

Inter RAO has been included on the list of companies sanctioned under the EU’s 21st package of sanctions against Russia.

Inter RAO is one of Russia’s largest energy companies. Its revenues reached RUB 1.36 trillion in 2023, and the company has approximately 19 million customers. It is controlled by the Russian government. Among Inter RAO’s shareholders are the state-owned companies Rosseti and Rosneftegaz, which are among the largest dividend contributors to the Russian federal budget.

Members of the company’s board of directors include sanctioned individuals Igor Sechin, CEO of Rosneft and a close ally of Vladimir Putin, and Dmitry Shugaev, Director of the Federal Service for Military-Technical Cooperation of the Russian Federation. Due to its high revenues, importance to Russia’s energy sector and government control, Inter RAO plays a significant role in a key sector of the Russian economy, while the Russian government collects part of Inter RAO’s revenues through taxes and dividends paid by its owners.

“Accordingly, Inter RAO provides financial support to the Government of the Russian Federation, which is responsible for the annexation of Crimea and the destabilization of Ukraine,” the EU said in its justification for sanctioning the company.