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<ul class="summary-list"><li>Rep. <keyword id="12198296" type="UNKNOWN" weightage="60" keywordseo="mikie-sherrill" source="Orion">Mikie Sherrill</keyword> said on Friday that Putin cared about being "isolated" from the world stage.</li><li>During a discussion on MSNBC's "Morning Joe," she discussed sanctions being imposed on the country.</li></ul>Rep. Mikie Sherrill — while discussing <keyword id="13216701" type="UNKNOWN" weightage="60" keywordseo="economic-sanctions" source="Orion">economic sanctions</keyword> being imposed on <keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword> as a result of their invasion of <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword> — said that Russian President <keyword id="11899444" type="UNKNOWN" weightage="60" keywordseo="vladimir-putin" source="Orion">Vladimir Putin</keyword> cared about being "isolated" from the world stage.<a href="https://www.youtube.com/watch?v=seH98Q0-BGI">During a Friday appearance</a> on MSNBC's "Morning Joe," the New Jersey Democrat — a former US Navy helicopter pilot and ex-federal prosecutor — said that the US is pressing Western allies to sanction Russia's vast oil reserves while continuing to employ other sanctions against the country."Certainly, we've seen the economic pressure we've placed on Russia have an impact on their economy, their banks," she said. "We're moving on other countries asking them to sanction oil and gas."She continued: "But the problem is the disconnect. Does Putin even care about the people of Russia?"When cohost Mika Brzezinski asked the congresswoman about the impact that Russia would actually feel from such measures, Sherrill stressed that the US continued to closely target people in Putin's orbit — as well as the leader himself — to essentially box the country into a corner."This is a conversation I just had with a member of my district from Iran talking about what sanctions look like within a country being sanctioned and who it impacts," the congresswoman said. "That's why we're working hard to target the oligarchs, why we're working hard to target Putin himself."She added: "But there is a huge economic impact on the people of Russia and we're hoping that that has an impact. But Putin does not have a history of being particularly concerned about the Russian people. That said, what Putin does care about is being isolated from the world community. That really impacts him. He wants prestige. He wants power. And the more that we can isolate him and have him on an island, I do think that has an impact on him."Russian billionaire <keyword id="13568839" type="UNKNOWN" weightage="60" keywordseo="vladimir-lisin" source="Orion">Vladimir Lisin</keyword> on Monday said that the ongoing threat of <a href="https://www.businessinsider.com/what-are-sanctions-russia-ukraine-invasion-us-eu-uk-nato-2022-3">sanctions</a> from the West — including those that have already been placed on the nation's upper crust — will have a severe impact on the <keyword id="13431669" type="UNKNOWN" weightage="60" keywordseo="russian-economy" source="Orion">Russian economy</keyword>."Being forced into this reality is inevitably unsettling because sanctions are capable of destroying everything that had taken many years to create," he said, per an Insider translation of his <a href="https://www.kommersant.ru/doc/5293731">interview</a> with the Russian newspaper Kommersant.Since Russia invaded Ukraine in late February, the US — along with the EU and the United Kingdom — have imposed an array of economic sanctions against Russia, Putin, and many individuals <a href="https://www.businessinsider.com/russian-oligarchs-sanctions-putins-inner-circle-2022-3">in the Russian leader's inner circle</a>.

Democratic Rep. Mikie Sherrill says Putin cares about being 'isolated' from world: 'He wants prestige'

<ul class="summary-list"><li><keyword id="13568839" type="UNKNOWN" weightage="60" keywordseo="vladimir-lisin" source="Orion">Vladimir Lisin</keyword> warned <keyword id="12754126" type="UNKNOWN" weightage="60" keywordseo="sanctions" source="Orion">sanctions</keyword> could cause a "cascade of negative consequences" for workers.</li><li>The billionaire was one of the first to speak out against <keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword>'s attack on <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword>.</li></ul>Russian oligarch Vladimir Lisin said the constant threat of <a href="https://www.businessinsider.com/what-are-sanctions-russia-ukraine-invasion-us-eu-uk-nato-2022-3">Western sanctions</a>, including those already imposed against the nation's elite, will have a longterm impact on Russia's working class."Being forced into this reality is inevitably unsettling because sanctions are capable of destroying everything that had taken many years to create," Lisin said on Monday, according to an Insider translation of his <a href="https://www.kommersant.ru/doc/5293731">interview with the Russian newspaper Kommersant.</a>Since Russia invaded Ukraine on February 24, the US, EU, and UK have levied several rounds of <a href="https://www.businessinsider.com/russia-sanctions-ukraine-invasion-economic-damage-putin-russian-elites-banks-2022-2">sanctions</a> against Russia, President <keyword id="11899444" type="UNKNOWN" weightage="60" keywordseo="vladimir-putin" source="Orion">Vladimir Putin</keyword>, and some of his closest allies. The sanctions target the economy and the country's banks, as well as specific oligarchs and their <a href="https://www.businessinsider.com/us-seizes-first-russian-oligarch-yacht-spain-after-sanctions-report-2022-4">foreign assets.</a>On Tuesday, <a href="https://www.forbes.com/sites/daviddawkins/2022/04/05/heres-how-big-a-hit-russias-billionaires-have-taken-in-the-past-year/?sh=531a24c527d2">Forbes reported</a> <keyword id="13301343" type="UNKNOWN" weightage="60" keywordseo="russian-billionaires" source="Orion">Russian billionaires</keyword> are collectively around $263 billion poorer compared to their total wealth a year ago. But, the nation's working class has also <a href="https://www.cnn.com/2022/03/12/europe/western-brands-russia-sanctions-impact-intl/index.html">not been immune</a> to the sanctions, as Russians find themselves in a country that has been increasingly <a href="https://www.npr.org/2022/03/02/1083694848/sanctions-russia-ukraine-economy-war">cut off</a> from the rest of the world.Lisin, the chairman and main shareholder of one of the largest steelmakers in Russia, said that his concern is not for the well-being of the billionaires who have been sanctioned, but rather for the "cascade of negative consequences for tens of thousands of our workers and tens or perhaps even hundreds of thousands of employees of our many partners and customers."The Novolipetsk Steel shareholder said his fears go beyond the development of his business and onto whether it will be able to survive the turmoil. "What we see today is more than just another economic crisis like those that we've faced in the past," Lisin said, regarding <a href="https://markets.businessinsider.com/news/commodities/russia-ruble-putin-gas-currency-hostile-payments-ukraine-commodities-markets-2022-3">Russia's efforts to sustain its economy.</a> "The situation today requires a much more serious approach, and sound, well-thought-out decisions."Lisin is one of the few <keyword id="12690587" type="UNKNOWN" weightage="60" keywordseo="russian-oligarchs" source="Orion">Russian oligarchs</keyword> who has yet to be targeted by Western sanctions. Though, the UK has considered seizing his 3,000-acre 17th-century Aberuchill Castle in Scotland, <a href="https://www.bbc.com/news/uk-scotland-scotland-politics-60617911">according to a report from BBC.</a> Lisin is one of the nation's richest men and is the 70th richest person in the world, according to <a href="https://www.bloomberg.com/billionaires/profiles/vladimir-lisin/?sref=LspfQlRv">Bloomberg's Billionaire Index.</a> Lisin is currently worth about $22.1 billion in US dollars. His wealth is down over $5 billion since Russia began invading Ukraine, according to the index.The steel tycoon was one of the first billionaires to <a href="https://www.businessinsider.com/russian-billionaire-calls-ukraine-invasion-hard-to-justify-vladimir-Lisin-2022-3">publicly criticize Russia's attack on Ukraine</a>. In a letter to his staff in March, Lisin called the attack a "huge tragedy that is impossible to justify."In his recent interview with the Russian newspaper, Lisin once again reflected on the loss of life associated with Russia's actions. He acknowledged that he sees the sanctions as an alternative to a "global conflict.""It is shameful to complain about sanctions and associated personal inconveniences against the backdrop of the unfolding humanitarian catastrophe," he said. "Sanctions may be perceived as unfair or carrying elements of collective liability, but the death of people and the destruction of cities need to be stopped by any means possible."Translations provided by Oleksandr Vynogradov.

Russian oligarch says sanctions against the nation are 'capable of destroying everything'

<ul class="summary-list"><li><keyword id="13329911" type="UNKNOWN" weightage="60" keywordseo="oligarch" source="Orion">Oligarch</keyword> Leonid Nevzlin publicly renounced his Russian citizenship on Tuesday. </li><li>The former <keyword id="11896879" type="UNKNOWN" weightage="60" keywordseo="oil" source="Orion">oil</keyword> tycoon fled <keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword> almost 20 years ago, claiming political persecution by <keyword id="11909347" type="UNKNOWN" weightage="60" keywordseo="putin" source="Orion">Putin</keyword>.</li></ul>Leonid Nevzlin, an oligarch and former oil tycoon, renounced his Russian citizenship in a Facebook post on Tuesday. He joins a <a href="https://www.businessinsider.com/russia-oligarchs-lawmakers-slam-ukraine-invasion-rare-rebuke-2022-3">small but growing group</a> of Russian elites breaking ranks to <a href="https://www.businessinsider.com/Russian-billionaire-against-war-ukraine-mikhail-fridman-oleg-deripaska-2022-2">speak out against the war on Ukraine</a>. "Russian citizenship has become a stamp of shame which I no longer want to wear. Enough is enough," Nevzlin wrote in the post. "I am against the war. I am against the occupation. I am against the genocide of the Ukrainian people.""I cannot afford to be a citizen of a country that kills children of other countries," he continued. But Nevzlin's "removal" of his citizenship is likely more symbolic than legally binding. Formal renunciation can take anywhere from six to 12 months, according to <a href="https://sras.org/educators/services/Russian-visas/dual-citizens/#:~:text=The%20process%20of%20renouncing%20Russian,an%20additional%202%2D4%20months.">SRAS.</a>Nevzlin co-founded the Russian oil giant Yukos with fellow oligarch Mikhail Khodorkovsky, who spent nearly a decade in a Russian prison following charges of fraud and tax evasion in 2005. During the Yukos investigation, Nevzlin fled to Israel, claiming he was the victim of political persecution. In 2008, Nevzlin was sentenced to life in prison for murder and financial crimes, charges which he has repeatedly denied. Israel has refused Russia's extradition request. "I was one of the first to be hit by Putin. He threw my friends in jails, and killed some of them," Nevzlin wrote. "Everything Putin touches dies."Khodorkovsky, his former business partner, is also an outspoken critic of Russian President <keyword id="11899444" type="UNKNOWN" weightage="60" keywordseo="vladimir-putin" source="Orion">Vladimir Putin</keyword>. Last week, he told CNN that <a href="https://www.businessinsider.com/exiled-russian-oligarch-Mikhail-Khodorkovsky-predicts-ukraine-end-putins-regime-2022-3">Putin's invasion of Ukraine has "significantly reduced" his chances of remaining in power</a>. Sanctioned Russian billionaires <a href="https://www.businessinsider.com/russian-billionaire-against-war-ukraine-mikhail-fridman-oleg-deripaska-2022-2">Mikhail Fridman, Oleg Deripaska</a>, <a href="https://www.businessinsider.com/russian-oligarchs-eu-sanctions-unfair-putin-ukraine-2022-3">Pyotr Aven, and Alexei Mordashov</a> have similarly called for peace in <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword>.Steel tycoon <a href="https://www.businessinsider.com/russian-billionaire-calls-ukraine-invasion-hard-to-justify-vladimir-Lisin-2022-3">Vladimir Lisin, who has avoided sanctions thus far, urged Putin to diplomatically end the war</a> in a letter to his employees.

Russian oligarch who fled to Israel 20 years ago and escaped a lifetime jail sentence renounces citizenship, says 'everything Putin touches dies'

<ul class="summary-list"><li>Russia's economy is boosting wealth for of oligarchs, some of whom are sanctioned.</li><li>A dozen Russian tycoons pocketed $11.4 billion in dividends for all of 2023 up until the first quarter of 2024.</li></ul>Russia's wartime economy has not only <a target="_blank" href="https://www.businessinsider.com/russia-economy-ukraine-war-winners-wealth-redistribution-social-mobility-putin-2024-6">made some poor people better off</a> — some of Russia's oligarchs are getting richer, too.At least 12 businesspeople received more than 1 trillion rubles, or $11.4 billion, in dividends for all of 2023 and the first quarter of 2024, according to <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-07-08/russian-tycoons-pocket-11-billion-dividends-on-war-economy-boom">Bloomberg</a> on Tuesday. The outlet based its calculations on publicly disclosed information.Many of the tycoons who received the dividend windfall are closely tied to Russian President Vladimir Putin, according to the news outlet. Some of them have been sanctioned by the West.The biggest winners from the dividend payouts were commodities exporters that have benefited from <a target="_blank" href="https://www.businessinsider.com/russia-economy-divert-oil-exports-europe-india-china-circumvent-sanctions-2023-12">Russia's pivot of its trade </a>eastward toward China, India, and other countries in the global south. Their key customers were previously from Europe.The biggest winner was Vagit Alekperov, a key shareholder and former president of oil giant Lukoil, who received 186 billion rubles in dividends, per Bloomberg. He has been sanctioned by the UK and Australia.Alexey Mordashov, chairman and a main shareholder of steel company Severstal, pocketed 148 billion rubles in dividends. The US, the UK, and the EU have sanctioned him.Meanwhile, Vladimir Lisin, the chairman of Novolipetsk Steel, raked in 121 billion rubles in dividends.The payouts illustrate how Russia's biggest companies are still profiting despite the West's isolation of the country's economy, which grew <a target="_blank" href="https://tass.com/economy/1781821">5.4% in the first quarter of this year</a> from a year ago.Russia's war-driven economy is so hot that the <a target="_blank" rel="" href="https://www.businessinsider.com/russia-economy-world-bank-upgrade-high-income-country-war-sanctions-2024-7">World Bank</a> upgraded it to a <a target="_blank" href="https://www.businessinsider.com/russia-economy-world-bank-upgrade-high-income-country-war-sanctions-2024-7">"high-income country"</a> last week.However, Russia's Center for Macroeconomic Analysis and Short-Term Forecasting — a key think tank — warned the country's economy could cool and slip into crisis in the second half of this year should the Bank of Russia hike interest rates, reported <a target="_blank" href="https://www.kommersant.ru/doc/6819825?from=top_main_1">Kommersant,</a> a business news outlet, on Monday.Elvira Nabiullina, Russia's central bank chief, has signaled an <a target="_blank" href="https://www.themoscowtimes.com/2024/07/04/russias-central-bank-chief-signals-">interest-rate hike</a> ahead due to higher-than-expected inflation.Russia's key interest rate is already at 16% to cool price rises, but inflation hit <a target="_blank" href="https://tass.com/economy/1803809">8.3% in May</a> — well above the official 4% target.

Russia's war economy is so hot that at least 12 of its oligarchs received $11 billion in dividends over 15 months

<ul class="summary-list"><li>Vladimir Lisin said in a letter to steelworkers he hoped Putin could find a diplomatic resolution.</li><li>The <keyword id="11916715" type="UNKNOWN" weightage="60" keywordseo="steel" source="Orion">steel</keyword> tycoon wrote that the death of people in <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword> is a tragedy that it is "impossible to justify."</li></ul>Russian oligarch Vladimir Lisin has called for a peaceful resolution to the attack on Ukraine.Lisin, the chairman and main shareholder of one of the largest steelmakers in <keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword>, sent a letter along with the board of directors to his staff at Novolipetsk Steel (NLMK) saying that he was hopeful that the war could end soon and calling for Russian President Vladimir Putin to reach a diplomatic outcome. <a href="https://www.reuters.com/world/russian-steel-billionaire-calls-lost-lives-ukraine-tragedy-2022-03-07/">Reuters first reported the letter.</a>An NLMK spokesperson confirmed the letter with Insider."I would like to begin by expressing my deepest compassion to all the victims of the armed conflict in Ukraine, the families and relatives of those who died," <a href="https://www.linkedin.com/feed/update/urn:li:activity:6906656171550470144/">Lisin wrote.</a> "Lost lives are always a huge tragedy that is impossible to justify. I am convinced that peaceful diplomatic conflict resolution is always preferable to the use of force."Lisin is one of Russia's richest men and is the 81st richest person in the world, according to <a href="https://www.bloomberg.com/billionaires/profiles/vladimir-lisin/?sref=LspfQlRv">Bloomberg's Billionaire Index.</a> The steel tycoon is currently worth about $19.1 billion in US dollars. His wealth is down over $5 billion since Russia began invading Ukraine, according to the index.Thus far, the Russian billionaire has been able to <a href="https://www.businessinsider.com/meet-10-russian-oligarchs-sanctioned-by-eu-putin-ukraine-invasion-2022-3">avoid sanctions, but</a> the UK is eyeing sanctions on his 3,000-acre 17th-century Aberuchill Castle in Scotland, according to a <a href="https://www.bbc.com/news/uk-scotland-scotland-politics-60617911">report from BBC.</a>The oligarch is one of a handful of Russian billionaires to speak out against the invasion into Ukraine. Last week, <a href="https://www.businessinsider.com/russian-billionaire-against-war-ukraine-mikhail-fridman-oleg-deripaska-2022-2">Russian billionaires Mikhail Fridman and Oleg Deripaska spoke out in protest</a> of the attack, calling for peaceful negotiations between the two countries.Russia's wealthiest have not been immune to the impact of sanctions from Western countries. Sanctions targeting Russia's <keyword id="11893570" type="UNKNOWN" weightage="100" keywordseo="economy" source="Orion">economy</keyword> and financial systems have cut into their net worth. Meanwhile, the US, Canada, and European nations have also moved to take direct aim at the <keyword id="12690587" type="UNKNOWN" weightage="60" keywordseo="russian-oligarchs" source="Orion">Russian oligarchs</keyword> by seizing their Western assets. One day after the invasion of Ukraine, <a href="https://www.businessinsider.com/russian-billionaires-lose-39-billion-dollars-one-day-ukraine-invasion-2022-2">Russia's 22 richest individuals lost a combined $39 billion</a>. Since then, Russia's currency has plummeted to <a href="https://www.cnn.com/2022/03/09/business/ruble-russia-central-bank/index.html">historic lows</a> and brought the nation to the <a href="https://www.cnn.com/2022/03/09/business/ruble-russia-central-bank/index.html">brink of default.</a>

Russian steel billionaire calls the invasion of Ukraine 'a huge tragedy that is impossible to justify'

<ul class="summary-list"><li><keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword>'s richest citizens lost $39 billion collectively in the day after their country attacked <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword>.</li><li>The <keyword id="11921347" type="UNKNOWN" weightage="60" keywordseo="wealth" source="Orion">wealth</keyword> wipeout came on Thursday, after Moscow's benchmark MOEX Russia Index crashed and closed 33% lower.</li></ul><a href="https://www.businessinsider.com/richest-russian-billionaires-in-the-world-ranked-2020-9">Russia's 22 richest individuals</a> saw their net worths plunge by a collective $39 billion in less than 24 hours after their country invaded Ukraine, according to the <a href="https://www.bloomberg.com/billionaires/">Bloomberg Billionaires Index.</a>The wealth wipeout came after Moscow's benchmark MOEX Russia Index crashed and closed 33% lower on Thursday.The Russian <keyword id="11940268" type="UNKNOWN" weightage="60" keywordseo="billionaires" source="Orion">billionaires</keyword> lost more money on Thursday than they had lost year-to-date up until Wednesday, according to <a href="https://www.bloomberg.com/news/articles/2022-02-24/russian-billionaires-lose-39-billion-in-a-day-on-ukraine-attack">Bloomberg.</a>The biggest loser was Vagit Alekperov, chairman of Moscow-based oil company Lukoil, who saw his wealth fall by one-third in one day as the company's share price plummeted 32% on Thursday. Alekperov now has a net worth of $13 billion, down from $19.2 billion, according to Bloomberg.Vladimir Potanin, Russia's richest known man (no one knows for certain just <a href="https://www.bloomberg.com/opinion/articles/2022-01-27/putin-s-wealth-may-be-unreachable-but-russia-s-isn-t">how rich</a> Russian President Vladimir Putin is), lost $3 billion after the share price of Norilsk Nickel, where he is the president, crashed 26%.It could get worse for Russia's richest individuals as Western sanctions intensify. The <a href="https://www.businessinsider.com/the-sanctions-the-us-has-levied-on-russia-thus-far-2022-2">US on Tuesday</a> announced <a href="https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20220222">sanctions</a> including measures against Russian oligarchs and their family members. On Thursday, <a href="https://www.businessinsider.com/biden-new-strong-sanctions-russia-mounts-attack-on-ukraine-2022-2">President Joe Biden</a> doubled down with another round of sanctions.On Tuesday, <a href="https://www.businessinsider.com/biden-new-strong-sanctions-russia-mounts-attack-on-ukraine-2022-2">the UK</a> also announced sanctions on five Russian banks and three individuals. Among the individuals sanctioned was oligarch Gennady Timchenko, who has close ties with Putin, according to <a href="https://www.reuters.com/world/uk/uk-says-russian-invasion-ukraine-has-begun-2022-02-22/">Reuters.</a> Timchenko is the 11th-richest person in Russia with a net worth of $12.1 billion, according to Bloomberg.Here's a breakdown of Russia's top ten richest people, their net worth, and how much they lost in one day on February 24, according to the <a href="https://www.bloomberg.com/billionaires/">Bloomberg Billionaires Index.</a><table style="border-collapse: collapse; width: 100%; height: 242px;" border="1"><tbody><tr style="height: 22px;"><td style="width: 33.3333%; height: 22px;">Name</td><td style="width: 33.3333%; height: 22px;">Net worth</td><td style="width: 33.3333%; height: 22px;">One-day change </td></tr><tr style="height: 22px;"><td style="width: 33.3333%; height: 22px;">Vladimir Potanin</td><td style="width: 33.3333%; height: 22px;">26.1</td><td style="width: 33.3333%; height: 22px;">-$3.0 billion</td></tr><tr style="height: 22px;"><td style="width: 33.3333%; height: 22px;">Alexey Mordashov</td><td style="width: 33.3333%; height: 22px;">23.0</td><td style="width: 33.3333%; height: 22px;">-$4.2 billion</td></tr><tr style="height: 22px;"><td style="width: 33.3333%; height: 22px;">Vladimir Lisin</td><td style="width: 33.3333%; height: 22px;">22.4</td><td style="width: 33.3333%; height: 22px;">-$3.9 billion</td></tr><tr style="height: 22px;"><td style="width: 33.3333%; height: 22px;">Leonid Mikhelson</td><td style="width: 33.3333%; height: 22px;">22.2</td><td style="width: 33.3333%; height: 22px;">-$3.8 billion</td></tr><tr style="height: 22px;"><td style="width: 33.3333%; height: 22px;">Alisher Usmanov</td><td style="width: 33.3333%; height: 22px;">20.3</td><td style="width: 33.3333%; height: 22px;">-$1.2 billion</td></tr><tr style="height: 22px;"><td style="width: 33.3333%; height: 22px;">Andrey Melnichenko</td><td style="width: 33.3333%; height: 22px;">18.6</td><td style="width: 33.3333%; height: 22px;">+0.1 billion</td></tr><tr style="height: 22px;"><td style="width: 33.3333%; height: 22px;">Viktor Vekselberg</td><td style="width: 33.3333%; height: 22px;">17.2</td><td style="width: 33.3333%; height: 22px;">-0.4 billion</td></tr><tr style="height: 22px;"><td style="width: 33.3333%; height: 22px;">Mikhail Prokhorov</td><td style="width: 33.3333%; height: 22px;">13.6</td><td style="width: 33.3333%; height: 22px;">-0.1 billion</td></tr><tr style="height: 22px;"><td style="width: 33.3333%; height: 22px;">Roman Abramovich</td><td style="width: 33.3333%; height: 22px;">13.3</td><td style="width: 33.3333%; height: 22px;">-1.8 billion</td></tr><tr style="height: 22px;"><td style="width: 33.3333%; height: 22px;">Vagit Alekperov</td><td style="width: 33.3333%; height: 22px;">13.0</td><td style="width: 33.3333%; height: 22px;">-6.2 billion</td></tr></tbody></table>

Russia's richest 22 billionaires have lost $39 billion in one day after the invasion of Ukraine

<ul class="summary-list"><li>Russian billionaires on the list lost on average 27% of their <keyword id="11921347" type="UNKNOWN" weightage="60" keywordseo="wealth" source="Orion">wealth</keyword> over the last year, according to <keyword id="11956280" type="UNKNOWN" weightage="60" keywordseo="forbes" source="Orion">Forbes</keyword>.</li><li>Severstal chairman Alexei Mordashov saw the biggest drop in wealth, falling by $15.9 billion, per Forbes.</li></ul>More than 30 <keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword>'s billionaires have fallen off Forbes' <a href="https://www.forbes.com/billionaires/">World Billionaires List</a> while those that remain have lost a quarter of their wealth on average, according to the publication's 2022 rankings.The number of Russians on the publication's <a href="https://www.forbes.com/sites/daviddawkins/2022/04/05/heres-how-big-a-hit-russias-billionaires-have-taken-in-the-past-year/?sh=6932ec4c27d2">billionaires list</a> dropped to 83 in 2022, down from 117 in 2021. Those who are included on the list saw their wealth shrink by 27% on average since the previous year. Between them, the 83 billionaires are worth $320 billion, per Forbes data.The 36th edition of the list gives some indication of the impact that <a href="https://www.businessinsider.com/3-different-economic-sanction-types-against-russia-oligarchs-swift-trade-2022-3?r=US&amp;IR=T">sanctions</a> targeted at Russia's <keyword id="13281691" type="UNKNOWN" weightage="60" keywordseo="oligarchs" source="Orion">oligarchs</keyword> and business elite, as well as the country's wider economy, have had on its super <keyword id="12406852" type="UNKNOWN" weightage="60" keywordseo="rich" source="Orion">rich</keyword>.Sanctions aimed at the oligarchs have in some cases led to asset seizures and freezes, while broader economic measures have caused a collapse of the ruble, accelerating inflation and plunging stock prices. Some economists say that sanctions <a href="https://www.businessinsider.com/russia-economy-gdp-crash-ukraine-war-inflation-sanctions-energy-putin-2022-3?r=US&amp;IR=T">could wipe out 15 years of economic growth</a> in Russia.Forbes said that <a href="https://www.businessinsider.com/russian-oligarch-superyacht-docks-vladivostok-sanctions-ukraine-billionaire-putin-nord-2022-3?r=US&amp;IR=T">Alexei Mordashov</a>, chairman of mining company <a href="https://www.businessinsider.com/sanctioned-russian-oligarch-alexei-mordashov-severstal-severgroup-sales-debt-default-2022-4?r=US&amp;IR=T">Severstal</a>, saw the biggest drop in net worth, falling $15.9 billion, or around 55%, to $13.2 billion on 2022's list. Five other Russian billionaires lost more than $10 billion each, per Forbes.Forbes named <a href="https://www.businessinsider.com/russian-billionaire-calls-ukraine-invasion-hard-to-justify-vladimir-Lisin-2022-3?r=US&amp;IR=T">Vladimir Lisin</a>, chairman and the main shareholder of Novolipetsk Steel, as Russia's richest person, worth an estimated $18.4 billion, a drop of 30% from a year ago. He is closely followed by Nornickel CEO <a href="https://www.businessinsider.com/vladimir-potanin-richest-man-russia-daughter-net-worth-yachts-lifestyle-2019-4?r=US&amp;IR=T">Vladimir Potanin</a> whose wealth is valued at $17.3 billion, down $9.7 billion, or 36%, from a year earlier.Only two Russians are new to Forbes' billionaires list. Egor Kulkov, an early partner of Pharmstandard joins with an estimated worth of $2 billion, as does <a href="https://www.businessinsider.com/us-fresh-sanctions-russian-oligarchs-putin-press-secretary-ukraine-war-2022-3?r=US&amp;IR=T">Denis Sverdlov</a>, founder and CEO of <a href="https://www.businessinsider.com/inside-arrival-microfactory-11-billion-ev-startup-betting-against-tesla-2021-6?r=US&amp;IR=T">British electric-vehicle maker Arrival</a> who's worth around $1.4 billion, according to Forbes.Of the Russians on this year's billionaires list, only two are women: Tatyana Bakalchuk, who founded online retailer Wildberries, and Elena Baturina, who set up real-estate developer Inteko.Forbes published its first index of the world's billionaires in 1987. The list comprised 2,668 entries this year – a reduction of 87 from a year ago – who were worth a collective $12.7 trillion, down $400 billion from the previous year. Tesla CEO Elon Musk ranked top of the list, followed by Amazon founder Jeff Bezos.The comparisons for the list were made between March 5, 2021 and March 11, 2022.

Russians on Forbes' billionaires list have lost on average 27% of their wealth over the past year

<ul class="summary-list"><li><keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword>'s 21 richest individuals have lost $84 billion so far this year, per the <a href="https://www.bloomberg.com/billionaires/">Bloomberg Billionaires Index.</a></li><li>Share prices of Russian companies listed globally have fallen even as the Moscow Exchange remains closed.</li></ul>The fortunes of Russia's richest individuals are getting hammered amid a massive market selloff as Western countries impose sanctions on Russia after its invasion of <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword>.Russia's 21 wealthiest individuals have collectively lost $84 billion this year, according to the <a href="https://www.bloomberg.com/billionaires/">Bloomberg Billionaires Index.</a> Their financial losses have more than doubled since the beginning of Russia's invasion of Ukraine: This same group of <keyword id="11940268" type="UNKNOWN" weightage="60" keywordseo="billionaires" source="Orion">billionaires</keyword> lost a collective <a href="https://www.businessinsider.com/russian-billionaires-lose-39-billion-dollars-one-day-ukraine-invasion-2022-2">$39 billion</a> in just one day after the invasion, which sent the country's <keyword id="11895235" type="UNKNOWN" weightage="60" keywordseo="stock-market" source="Orion">stock market</keyword> diving 50% last week.The market turmoil prompted the country's <a href="https://markets.businessinsider.com/news/stocks/russia-closed-stock-market-blocks-foreigner-sales-central-bank-ukraine-2022-2">central bank</a> to halt stock trading on the <a href="https://www.cbr.ru/press/pr/?file=28022022_205401SUP_MEAS28022022_205427.htm">Moscow Exchange</a> to stem further declines. Even so, Russian billionaires' <keyword id="11921347" type="UNKNOWN" weightage="60" keywordseo="wealth" source="Orion">wealth</keyword> continued to come under pressure, as some of their companies are listed elsewhere in the world.The biggest loser among Russia's billionaires is Lukoil chairman Vagit Alekperov, who has lost $14 billion this year — 60% of his net worth — after the company's share price tanked about 80% on the London Stock Exchange. He is now worth $8.8 billion, per Bloomberg.Russia's richest known man, Vladimir Potanin, has lost $6.2 billion and now has a net worth of $24.7 billion, per Bloomberg. The share price of Norilsk Nickel, of which he is the president, has fallen by 56% on the London Stock Exchange.Iskandar Makhmudov, President of Ural Mining and Metallurgical Company, dropped out of the billionaire list altogether, Bloomberg's list shows.Andrey Melnichenko is the only Russian billionaire to have made gains to date this year. His fortune is largely derived from privately held fertilizer company EuroChem and thermal coal firm SUEK, according to <a href="https://www.bloomberg.com/billionaires/profiles/andrey-melnichenko/" target="_blank" rel="noopener noreferrer">Bloomberg.</a>Even before Russia's invasion of Ukraine, the US and UK had already slapped sanctions on Russian <keyword id="13281691" type="UNKNOWN" weightage="60" keywordseo="oligarchs" source="Orion">oligarchs</keyword> and their family members. Among the individuals sanctioned by the UK was oligarch Gennady Timchenko, who has close ties with Putin, according to <a href="https://www.reuters.com/world/uk/uk-says-russian-invasion-ukraine-has-begun-2022-02-22/">Reuters.</a> His net worth now stands at $11.1 billion after falling by $11.3 billion this year.Here's a breakdown of Russia's top ten richest people, their net worth, and how their wealth has changed so far this year, according to the <a href="https://www.bloomberg.com/billionaires/">Bloomberg Billionaires Index.</a><table style="border-collapse: collapse; width: 100%; height: 242px;" border="1"><tbody><tr style="height: 22px;"><td style="width: 33.3333%; height: 22px;">Name</td><td style="width: 33.3333%; height: 22px;">Net worth</td><td style="width: 33.3333%; height: 22px;">Year-to-date change </td></tr><tr style="height: 22px;"><td style="width: 33.3333%; height: 22px;">Vladimir Potanin</td><td style="width: 33.3333%; height: 22px;">24.7</td><td style="width: 33.3333%; height: 22px;">-$6.20 billion</td></tr><tr style="height: 22px;"><td style="width: 33.3333%; height: 22px;">Alexey Mordashov</td><td style="width: 33.3333%; height: 22px;">21.9</td><td style="width: 33.3333%; height: 22px;">-$6.94 billion</td></tr><tr style="height: 22px;"><td style="width: 33.3333%; height: 22px;">Leonid Mikhelson</td><td style="width: 33.3333%; height: 22px;">21.5</td><td style="width: 33.3333%; height: 22px;">-10.9 billion</td></tr><tr style="height: 22px;"><td style="width: 33.3333%; height: 22px;">Vladimir Lisin</td><td style="width: 33.3333%; height: 22px;">20.8</td><td style="width: 33.3333%; height: 22px;">-$7.19 billion</td></tr><tr style="height: 22px;"><td style="width: 33.3333%; height: 22px;">Alisher Usmanov</td><td style="width: 33.3333%; height: 22px;">19.7</td><td style="width: 33.3333%; height: 22px;">-$1.59 billion</td></tr><tr style="height: 22px;"><td style="width: 33.3333%; height: 22px;">Andrey Melnichenko</td><td style="width: 33.3333%; height: 22px;">19.5</td><td style="width: 33.3333%; height: 22px;">+1.99 billion</td></tr><tr style="height: 22px;"><td style="width: 33.3333%; height: 22px;">Viktor Vekselberg</td><td style="width: 33.3333%; height: 22px;">16.9</td><td style="width: 33.3333%; height: 22px;">-1.58 billion</td></tr><tr style="height: 22px;"><td style="width: 33.3333%; height: 22px;">Roman Abramovich</td><td style="width: 33.3333%; height: 22px;">13.7</td><td style="width: 33.3333%; height: 22px;">-4.29 billion</td></tr><tr style="height: 22px;"><td style="width: 33.3333%; height: 22px;">Mikhail Prokhorov</td><td style="width: 33.3333%; height: 22px;">13.5</td><td style="width: 33.3333%; height: 22px;">-0.45 billion</td></tr><tr style="height: 22px;"><td style="width: 33.3333%; height: 22px;">Suleiman Kerimov</td><td style="width: 33.3333%; height: 22px;">11.3</td><td style="width: 33.3333%; height: 22px;">-3.93 billion</td></tr></tbody></table>

Russian billionaires' losses, now totaling $84 billion this year, have more than doubled since Russia invaded Ukraine less than a week ago

Top 100 richest people in the world

Russia's wealthiest are getting demolished this year.
Over the course of the year, the 20 richest Russians have lost a combined $62 billion, according to&#xa0;<a href="http://www.bloomberg.com/news/2014-12-17/russian-rich-lose-10-billion-in-two-days-as-ruble-drops.html">Bloomberg</a>.
(For a reference point, that's three times the GDP of <a href="http://data.worldbank.org/indicator/NY.GDP.MKTP.CD">Afghanistan</a>.)
And while 2014 certainly hasn't been easy for Russian billionaires, the last week has been straight up brutal: The 20 richest lost a whopping <a href="http://www.bloomberg.com/video/it-s-been-a-rough-week-for-russian-billionaires-BuFi_pQBS4WwlxZ3ml3YEg.html">$10 billion</a>&#xa0;in just three days.
The major drop over the last three days follows several economic issues. On early Tuesday morning (late Monday ET), the Russian Central Bank&#xa0;<a href="http://www.businessinsider.com/russia-raises-rates-2014-12">raised rates</a>&#xa0;to 17% from 10.5%, in order to limit the devaluation of the ruble and inflation risks.
In a sentence, it did not work.&#xa0;The Russian currency fell to new lows, reaching 80 rubles to the dollar and 100 rubles to the euro that day. Although the ruble has recovered a bit, it dangled around 63 on <a href="http://www.businessinsider.com/ruble-slipping-again-as-putin-says-the-situation-is-not-a-crisis-2014-12">Thursday</a>.
Since the end of June, the ruble has dropped 50%.&#xa0;
 
The biggest loser in dollar value, the CEO of the second-largest gas producer, Leonid Mikhelson,&#xa0;dropped $8.7 billion since January - twice the GDP of <a href="http://data.worldbank.org/indicator/NY.GDP.MKTP.CD">Sierra Leone</a>.
The co-founder of a commodity trading company, Gennady Timchenko, and steel magnate Vladimir Lisin lost $7.8. and $7.5 billion respectively - roughly the GDP of&#xa0;<a href="http://data.worldbank.org/indicator/NY.GDP.MKTP.CD">Rwanda</a>.
And percentage-wise, Vladimir <a href="http://www.ft.com/intl/cms/s/0/6b5cd064-8619-11e4-b248-00144feabdc0.html#axzz3MByV9iv0">Evtushenko</a>&#xa0;was hit the worst. Formerly&#xa0;Russia's 14th richest person, Evtushenko watched 90% of this wealth evaporate over the year. And to make things worse, he was placed under house arrest by a Moscow Court back in October.
"A chill went through everybody's spine when [Putin] arrested him,"&#xa0;Rob Lafranco said on Bloomberg TV earlier on <a href="http://www.bloomberg.com/video/it-s-been-a-rough-week-for-russian-billionaires-BuFi_pQBS4WwlxZ3ml3YEg.html">Thursday</a>.
He was officially released on Wednesday - just one day before Putin's press conference, which was seen as a "message that the state will not target business owners as the economy threatens to collapse," according to <a href="http://www.bloomberg.com/news/2014-12-18/putin-offers-olive-branch-to-evtushenkov-after-house-arrest-ends.html?hootPostID=0760c301ef1b51603bf868c1365574d8">Bloomberg</a>.
"The optimists who thought in March that everything would be all right in the end now understand that nothing will be OK," Stanislav Belovsky, a Kremlin adviser during Putin's first term told Bloomberg.
"Russia's richest take this situation very negatively," he added, "but they do not have the tools to reverse it."
You can watch the full Bloomberg interview <a href="&lt;object%20data='http://www.bloomberg.com/video/embed/BuFi_pQBS4WwlxZ3ml3YEg?height=395&amp;width=640'%20width=640%20height=430%20style='overflow:hidden;'>&lt;/object>">here</a>.

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