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Russian oligarch Viktor Vekselberg is an investor in a joint-venture partner of Origin Energy in the Beetaloo Basin.Credit:AP

Origin Energy immediately moved to seek urgent clarification from government officials about the effect of sanctions on Mr Vekselberg who has a financial interest in a joint-venture gas project in the Northern Territory.

Mr Vekselberg owns a stake in Lamesa Holdings,the largest shareholder of Falcon Oil and Gas. London-listed Falcon is Origin’s junior partner in a joint venture exploring gas tenements in the Northern Territory’s highly prospective Beetaloo Basin.

Origin Energy on Friday said neither Lamesa nor Mr Vekselberg had direct involvement in the venture,but reiterated it was “appalled by the Russian invasion of Ukraine” and would comply with all Australian rules and laws.

“Clarification is being sought from the Australian Department of Foreign Affairs and Trade on any implications of the sanctions for Origin,” a spokesperson said.

The company earlier this month raised concerns about Mr Vekselberg’s interest directly with Falcon. Maxim Mayorets,Mr Vekselberg’s representative on the board,agreed to step down from the Falcon board.

For Rio Tinto,the second-largest Australian mining company,the sanctions against Mr Deripaska increase uncertainty about the future of its majority-owned Queensland Alumina Limited in Gladstone,one of the country’s biggest alumina refineries,which is 20 per cent owned by Russia’s Rusal.

Mr Deripaska owns a large stake in En+ Group,Rusal’s majority shareholder.

Rio Tinto last week said it was in the process of “terminating all commercial relationships it has with any Russian business”. The company placed its partnership agreement with Rusal under immediate review.

However,even with the introduction of official sanctions against Mr Deripaska,Rio Tinto is expected to face ongoing difficulties unwinding the deal without sanctions against Rusal itself,according to sources with knowledge of the matter.

Rio Tinto declined to comment.

Following the introduction of the sanctions on Friday,shareholder activists stepped up pressure on Origin Energy and Rio Tinto to take “every possible step to ensure” that neither Mr Deripaska nor Mr Vekselberg financially benefited in any way from the respective joint ventures.

“The government must consider imposing sanctions on Rusal,in addition to the Russian financial institutions listed today,” said Dan Gocher of the Australasian Centre for Corporate Responsibility.

“Alumina exports from Queensland to Russia must be stopped immediately to prevent the possibility of Australian alumina being used in munitions manufacturing.”

Mr Gocher said Origin Energy should suspend its joint venture with Falcon Oil and Gas “until Mr Vekselberg’s interest in Falcon is quarantined”.

Foreign Minister Marise Payne said Australia was increasing pressure on oligarchs close to Vladimir Putin.

“In addition to the 41 oligarchs and immediate family members on whom we had already put targeted financial sanctions and travel bans,Australia has now added two billionaires with links to business interests in Australia,Oleg Deripaska and Viktor Vekselberg,” she said.

“In doing so,we have continued our close co-operation with key international partners.”

Senator Payne said the government welcomed the stand taken by many Australian companies in announcing moves to “cut ties with Russia in protest of Moscow’s illegal,indefensible war against Ukraine”.

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