The Russian billionaires hardest hit by the war with Ukraine

The war resulting from the Russian invasion of Ukraine could have a devastating impact on Russian billionaires. Economic sanctions by the European Union and the United States have already begun to affect the country’s resources, led by Wladimir Putinsomething that could result in these big businessmen being mobilized lest their immense wealth be jeopardized.

At the moment, the first days of the war leave behind an inflation of more than 30%, caused by the price increase of some businessmen. “We are in a new world where, in addition to increasing the exchange rate, technological sanctions have been introduced and it is not yet clear how many products will be delivered,” explained the director of retail technology chain DNS, who understands that “these prices are annoying” for are the Russian consumer.

Next, the blocking of the payment system SWIFT it has halted international transactions, leading to an unprecedented devaluation of the ruble against currencies like the euro or the dollar. In short: Consequences of the war that promise a lot to talk about in 2022.

The Russian billionaires hardest hit by the war

Roman Abramovich

He is one of the best-known Russian billionaires in the West. It’s about London Chelsea owner, and one of the tycoons who may suffer the most from the consequences of the war between his country and Ukraine. So much so that it has decided to take part in the peace talks that delegations from both countries are conducting in Belarus these days.

In addition to owning the English football club, whose management he temporarily left after the outbreak of war to avoid possible sanctions, Abramovich has a fortune more than $13,600 millionstemming from several successful companies, particularly in the energy sector.

Vladimir Lisin

at 65 years, Vladimir Lisin He is one of the richest Russian oligarchs in the country. It has a Net worth estimated at $26,900 million, thanks to his position as the largest shareholder and director of Novolipetsk, one of the four big steel companies in Russia. In addition, he is a leading expert in this field and has published several scientific papers.

Alexei Mordashov

This Russian billionaire also owes much of his fortune to the exceeds $22,000 million, to the energy sector. In his case, however, he has managed to diversify his corporate portfolio with investments in food distribution, telecommunications, tourism, media or the financial sector. It also owns two airports, so it could be particularly affected by the closure of airspace between Russia and the European Union following the war with Ukraine.

Mikhail Fridman

Is he Owner of the supermarket chain Dia, through his investment vehicle LetterOne, and also one of the Russian billionaires hardest hit by his country’s war in Ukraine. His estimated net worth is $11.3 billionthanks to a conglomerate of multinationals and Alfa Bank, a banking company of which he is the founder.

Fridman is among the businessmen sanctioned by the European Union in the wake of the Russia-Ukraine conflict because of his close ties to the Putin government and major benefits from the 2014 annexation of Crimea. Given the current complicated situation, the billionaire decided to ask for the end of the war and to remember its Ukrainian origin. “This crisis will take lives and harm two nations that have been brothers for hundreds of years. While a solution seems dreadfully remote, I can only join those whose dearest wish is an end to the bloodshed.”

The fate of war-affected Russians in Spain

Spain is one of the favorite travel destinations of these Russian billionaires who are now experiencing a blockade to enter the country by plane due to the war stemming from the invasion of Russia and Ukraine. Thus, the Russian community is the owner of most of the large yachts parked in Marbella, as well as one of the protagonists in the luxury real estate market in the region.

Exactly the real estate industry bonus the Costa del Sol could be one of the hardest hit by the blockade resulting from the war in Ukraine. In 2021 alone, real estate sales exceeded 256 million euros, three times more than in 2019, the year before the pandemic. This figure shows the good moment of real estate activity in the area, which, in addition to Marbella, includes other cities such as Estepona or Benahavís.

In any case, the current situation of the Russian oligarchs with real estate in Spain is still uncertain. The war resulting from Russia’s invasion of Ukraine appears to have more chapters, while EU and US sanctions promise to last for a longer period of time and be one of the focal points of the debate in 2022, below Considering the consequences this could have on Western countries.