Tate galleries cut ties with sanctioned billionaires after Ukraine invasion
The Tate has severed relations with Viktor Vekselberg and Petr Aven after the Russian billionaires were sanctioned by the US and EU after the invasion of Ukraine.
Vekselberg, the founder of a Russian energy conglomerate and an associate of Vladimir Putin, was an honorary member of the prestigious Tate Foundation, a fundraising charity for acquisitions, exhibitions, education and capital projects.
“Mr Vekselberg donated to Tate seven years ago and no longer holds his honorary membership title,” the London gallery group said.
Vekselberg has already been the target of US sanctions imposed in 2018.
On Friday, he was again among a list of Russian billionaires facing US sanctions, with the government saying he has “maintained close ties” with Putin. His jet and yacht have been identified as “blocked property”.
As well as the Tate, he has donated in the US to the Lincoln Center and Carnegie Hall – prior to sanctions being imposed.
Vekselberg’s fortune is estimated to be as much as $9.3bn (£6.9bn), which he began amassing after Russia’s oil and aluminium industries were privatised.
“This relisting is not only unfounded but seems to rely on demonstratively baseless assumptions,” said Vekselberg in a statement.
In a letter sent by Vekselberg to Tate on Thursday, seen by the Financial Times, he said he was ready to step down “if the foundation believes that this act is necessary”, adding that he had been “genuinely happy [his] donations have contributed to the development of cultural ties”. He added: “I will continue to do everything I can to accelerate the advent of peace.”
The group, which operates Tate Modern and Tate Britain in London, has also ended its relationship with Aven, a member of its donor programmes.
Earlier this month, Aven
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