Originally Posted by O MARINA

Russian billionaire Alexey Mordashov, resigned from its supervisory board Wednesday after the European Union leveled economic sanctions against him three days earlier.

“The aim of the EU sanctions is to prevent Mr. Mordashov from disposing of his shares in TUI AG,” the Hanover, Germany tour operator said in a statement. “This is to prevent Mr. Mordashov from realizing any proceeds or profits from his investment in TUI.”
As part of the EU sanctions, Mordashov’s equity in the company will be frozen, and he loses any right to shareholder dividends. He has no access to his shares, and can’t reap any further benefit from TUI’s business.