The Charity Commission had drafted in an interim manager to run the Potanin Foundation, set up by Russia’s second richest man Vladimir Potanin.

The regulator opened a statutory inquiry into the grant making charity in July amid sanctions enacted by the UK government due to Russia’s invasion of Ukraine. These latest curbs on Russian interests were aimed at hitting the “inner circle” of Russian president Vladimir Putin.

The oligarch was the only member of the charity, which supports work carried out by its sister charity in Russia, the Vladimir Potanin Foundation.

In a fresh blow to Potanin’s involvement in the charity, the regulator has announced that Guy Hollander of Mazars LLP has been appointed as interim manager.

“He has taken over the management and administration of the charity and will fulfil a number of tasks, including managing the charity’s assets and assessing the future viability of the charity,” said the Commission.

The Charity Commission is looking into several charities linked to Russian nationals sanctioned by the UK government

This includes appointing interim managers at two grant making trusts linked to the oligarch Dr Viatcheslav Kantor.

Meanwhile, in May the regulator appointed an interim manager to run another Russian oligarch linked charity Genesis Philanthropy Group, after three of its trustees were subject to financial sanctions following Russia’s invasion of Ukraine

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