The EU has frozen the assets and imposed a travel ban on more than half a dozen of Russia’s most prominent oligarchs, many of them with close ties to President Vladimir Putin, one of them is Petr Aven, founder of Alfa Bank.
The EU has frozen the assets and imposed a travel ban on more than half a dozen of Russia’s most prominent oligarchs, many of them with close ties to President Vladimir Putin, as it penalises some of the country’s most powerful people following the invasion of Ukraine, one of them is Petr Aven, founder of Alfa Bank.
Pyotr (Petr) Aven has been a Trustee of the Royal Academy since 2014. We have asked (before the sanctions imposed) the Royal Academy how they see a further collaboration with Pyotr (Petr) Aven in the face of the ongoing war on Ukraine by Russia and this was their response:
Petr Aven is a passionate supporter of the arts. He has served as a Trustee of the Royal Academy Trust since 2014. In 2017 he was a supporter of Revolution: Russian Art 1917-1932. He has also supported our current exhibition Francis Bacon: Man and Beast.
The Royal Academy is an independent charity and does not receive government funding. It relies on support from a range of sources to supplement its own revenue generating operations, including corporate sponsorship, donations from individuals, grants from trusts and foundations as well as support raised from the Friends of the RA. This support provides financial security, enabling the RA to fulfil its vital role in developing and presenting the most important and diverse range of exhibitions to the public.
Decisions concerning donations and corporate support are made following appropriate due diligence on a case-by-case basis and in compliance with the RA’s Gift Acceptance policy, and overseen by the RA Council (the governing body of the Royal Academy) advised by the Royal Academy’s Ethics Advisory Group.