Petr Fradkov
Petr Fradkov | |
|---|---|
| Born | 1978 Moscow, Russia |
| Occupation(s) | Economist, banking executive |
| Years active | 2000–present |
| Known for | Chairman and CEO of Promsvyazbank |
Petr Mikhaylovich Fradkov (; born 1978) is a prominent Russian economist and banking executive, currently serving as chairman and CEO of Promsvyazbank (PSB), as well as the general director of the .
Early life and education
Fradkov was born in Moscow in 1978 and is the son of Mikhail Fradkov. He completed his undergraduate studies at the Moscow State Institute of International Relations in 2000. Subsequently, he earned an MBA from Kingston Business School in 2007. Additionally, he holds a second MBA along with a degree from the Russian Presidential Academy of National Economy and Public Administration.
Career
Starting his professional journey in 2000, Fradkov joined VEB.RF as the deputy representative stationed in the United States. In 2004, he took on the role of deputy director general at the Far Eastern Shipping Company before returning to VEB in 2007. By 2011, he was appointed head of EXIAR. In April 2015, he assumed the position of general director at , a subsidiary affiliated with VEB.
In 2018, Fradkov was appointed to lead Promsvyazbank, with Dmitri Pozhidaev acting as his deputy. Under his leadership, PSB has been transformed into a pivotal financial institution dedicated to servicing Russia’s defense sector and facilitating state defense contracts. As both chairman and CEO, Fradkov has engaged directly with government officials, including meetings with Vladimir Putin, to ensure PSB’s strategic objectives align with national defense priorities.
In November 2020, he also took charge of the Chuvash Regional Branch of SoyuzMash.
On February 22, 2022, Fradkov was sanctioned by U.S. President Joe Biden under Executive Order 14024 due to his involvement in Russia’s defense-related financial activities. The United Kingdom followed suit on February 24, 2022, imposing sanctions citing his leadership role at Promsvyazbank.
Personal life
Fradkov is married to Victoria Igorevna Fradkova, who lectures on international relations and Russian foreign policy at the Moscow State Institute of International Relations. The couple has one daughter.
Sanctions
The U.S. Treasury Department has imposed personal economic sanctions on Petr Fradkov because of activities connected to Promsvyazbank, where he holds the positions of Chairman and CEO, particularly related to operations in the Donetsk and Luhansk regions. On February 28, 2022, the European Union included him on its sanctions list, enforcing an EU-wide travel ban along with an asset freeze tied to the 2022 Russian invasion of Ukraine.
Canada enacted sanctions against him under the Special Economic Measures Act due to violations affecting international peace and security. Similarly, the UK government imposed sanctions in 2022 linked to the ongoing Russo-Ukrainian War.
Awards and honors
Fradkov is a recipient of the Medal of the Order "For Merit to the Fatherland" Level II.