This comes as the UK unleashed ‘largest set of sanctions ever’
Russia’s billionaires collectively lost $39bn in one day following Russia’s invasion of Ukraine and the subsequent crash of their stock index.
Russia’s wealthy found their finances demolished following Moscow’s benchmark MOEX Russia Index crashing on Thursday. The market ended at 33 per cent lower than when it had opened that day. Russian billionaires are said to have lost more in one day than they had in an entire year, reports Bloomberg.
Oil chairman Vagit Alekperov, who runs Moscow-based oil company Lukoil, lost a third of his wealth as his company’s share price dropped by 32 per cent. He initially had a net worth of $19.2bn but that has now dropped to $13bn.
Russia’s richest man Vladimir Potanin, not to be confused with their leader, lost a staggering $3bn after his company, Norilsk Nickel’s stock dropped by 26 per cent.
This comes as western powers push out sanctions against Russia. President Joe Biden doubled down on Thursday, releasing another load of sanctions. Prime Minister Boris Johnson also released the “largest set of sanctions ever” on Russia following their invasion.
Making a statement in the Commons on Thursday, the PM said that more than 100 businesses and individuals would be targeted, including “all the major manufacturers that support Putin’s war machine.”
Johnson said: “Putin will stand condemned in the eyes of the world and of history. He will never be able to cleanse the blood of Ukraine from his hands.
“Although the UK and our allies tried every avenue for diplomacy until the final hour, I am driven to conclude that Putin was always determined to attack his neighbour, no matter what we did.”
He also branded Putin a “bloodstained aggressor, who believes in imperial conquest”, which echoes President Biden’s statement, which added: “Putin is the aggressor. Putin chose this war. And now he and his country will bear the consequences.”
Related links:
- Klitschko brothers to take up arms to defend Ukraine from Russian invasion
- Chernobyl radiation at excess levels after Russian troops took control of plant in Ukraine
- Zenit drop Ukrainian defender Yaroslav Rakitskiy for speaking out against Russian invasion
