Russian businessman Mikhail Fridman is offering to transfer $1 billion of his personal wealth into a Ukrainian bank he co-founded, a proposal that people familiar with the issue said is intended to persuade the U.K. to lift sanctions against him.
Mr. Fridman’s proposal is among a number of overtures that blacklisted business executives, banks and companies are quietly making to Western authorities as those nations prosecute a campaign to economically cripple Russia in response to its war in Ukraine, according to U.S. officials.