The four have served on the supervisory board of the Alfa Group Consortium ("Alfa Group"), one of the largest financial and investment conglomerates in Russia. These individuals were previously sanctioned by Australia, Canada, the European Union, New Zealand, and the United Kingdom. Despite their relationship with Letterone, OFAC makes clear in FAQ 1131 that Letterone itself is not a sanctioned entity because based on information available to OFAC, Letterone is not owned 50 percent or more by blocked persons or otherwise considered the blocked property or interest in property of blocked persons. Letterone's chairman, Lord Davies of Brosch, wrote in Chairman's Review dated July 2022, "When the war began, all of our founders were among the first to speak out against it. They were clear that they are non-political and solely business focused. Nonetheless, four of our founders –Mikhail Fridman, German Khan, Petr Aven and Alexey Kuzmichev – are subject to sanctions in the UK and EU.