Russian-Owned Phillips Auction House Says Sanctions Won’t Affect Business

Amid bloodshed in the Ukraine following the Russian military’s invasion in the country last week, sweeping economic sanctions targeting oligarchs with ties to the Russian government are being levied. With questions lingering about how businesses of all kinds will be impacted, the auction house Phillips, which is owned by Russian luxury retailer Mercury Group, has said it doesn’t expect sanctions to affect its operations.
Owned by Leonid Friedland and Leonid Strunin, the Moscow-based