Chelsea owner Roman Abramovich has been banned by the British government as part of his response to Russia's invasion of Ukraine.
He is one of seven wealthy businessmen to face new restrictions, including restrictions on their property and travel bans.
The list also includes billionaires Igor Sechin and Oleg Deripaska, both of whom appear to be allies of Vladimir Putin.
Prime Minister Boris Johnson said "there can be no safe places" for those who have supported the invasion.
"Today's sanctions are the latest step in Britain's unwavering support for the people of Ukraine. We will be ruthless in the pursuit of those who facilitate genocide, hospital vandalism and illegal invasion of independent allies," Mr Johnson said.
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The government was under pressure to impose sanctions on Mr Abramovich, who he said had made "difficult decisions" to sell Chelsea FC earlier this month.
Abramovich, 55, is alleged to have close ties to Russian President Vladimir Putin, which he has denied.
The government says Mr Abramovich, who is estimated to have assets worth £ 9.4bn, is "one of the richest men since the 1990s to maintain influence under Putin".
