The Russia-Ukraine Crisis has also affected the rich of Russia. His wealth has dropped by $32 billion this year. Tensions are rising between Russia and Ukraine. The United States, England and Germany have imposed sanctions on Russia after sending troops to eastern Ukraine. They have also targeted Russian rich and companies.
According to the Bloomberg Billionaire Index, Gennady Timchenko is the first name in the list of Russian rich who have lost wealth. This year one-third of his wealth has sunk. Timchenko, 69, has a wealth of about $ 16 billion. Of this, a large amount has come from Russia's gas producer Novatek. Apart from this, he has also invested in transport and infrastructure companies. He also has investments in Rossiya Bank. England has also banned this bank.
The wealth of another Russian businessman Leonid Mikhelson has decreased by $ 6.2 billion this year. Vagit Alekperov's wealth has decreased by about $3.5 billion this year. He is the chairman of Russia's largest independent oil company, LookOil. The company's shares have fallen 17 per cent this year. Alekperov holds about one-fourth percent stake in this company.
British Prime Minister Boris Johnson has also announced sanctions on Boris Rotenberg and his nephew Igor. Both of them are co-owners of Russia's largest gas pipeline construction company StoryGazmontaz. The total net worth of Russia's 23 billionaires is $343 billion. This has decreased significantly from $375 billion at the end of 2021.
European countries including the US have imposed sanctions on Russia against the move Russia has taken in Ukraine. However, they are not very strict. It is believed that this is just a signal to Russia not to act arbitrarily against Ukraine. If it is not accepted, Western countries have kept the option of strict sanctions open.
