Two UK-based Russian oligarchs have shares in $22bn conglomerate frozen

Action taken upon Mikhail Fridman and Petr Aven by holding company that owns Holland & Barrett after EU imposed sanctions

The UK-based Russian billionaire oligarchs Mikhail Fridman and Petr Aven have had their shares in the $22bn (17bn) conglomerate LetterOne, which owns Holland & Barrett, frozen", days after they were hit with EU sanctions following Russia's invasion of Ukraine.

LetterOne, which is just under 50% owned by Fridman and Aven, announced on Wednesday night that the men had ceased to have any involvement with the company" and that it had frozen their shares.