The United States plans to impose sanctions on Vladimir Potanin, one of Russia’s richest men, but will not impose sanctions on Nornickel, the majority shareholder of which he is the majority shareholder, the Wall Street Journal reported, citing US officials, Reuters reports.

The action, which could come Thursday, is expected to include sanctions against Potanin, as well as his wife, Ekaterina Potanina, and a yacht he owns, the WSJ reported Wednesday.

As Washington looks for ways to minimize Russia’s ways of financing the war, the US also wants to impose sanctions on Interros, the Russian conglomerate controlled by oligarch Potanin, and Rosbank, which Interros bought from Société Générale SA earlier this year.

Potanin is the majority shareholder of PJSC GMK Norilsk Nickel GMKN.MM, or Nornickel, which will not face sanctions, the WSJ reported.

Nornickel is the world’s largest producer of refined palladium and nickel.

In June, the British government announced sanctions against people close to Putin, including Potanin, Russia’s second-richest man.

“Potanin continues to accumulate wealth by supporting the Putin regime by acquiring Rosbank and shares in Tinkoff Bank in the period following Russia’s invasion of Ukraine,” the British government said at the time.

Deputy Yurii Shvitkin, deputy chairman of the State Duma’s defense committee, said in September that Roman Abramovich, Oleg Deripaska, Volodymyr Potanin and all others should do more for the Russian military in Ukraine.

“For example, it is necessary to trust oligarchic structures, Abramovich – airborne troops, Deripaska – motorized rifle units, Potanin – tank divisions,” said the deputy chairman of the State Duma’s defense committee.