The largest reduction in capital was recorded for the main owner of PJSC “Sevierstal” Oleksiy Mordashev and for the chairman of the board of PJSC “Novolypetsk metallurgical plant” Volodymyr Lisin.

The Russian invasion of Ukraine negatively affected not only the general state of the Russian economy, but also the personal wallets of the richest people in the Russian Federation: in the year since the start of full-scale hostilities, they have lost up to 67 billion dollars in income.

It is about the financial losses of 23 Russian billionaires, who lost almost 20% of their capital as of February 24, 2022. This is four times higher than the dynamics of losses on the part of other rich people who are included in the list of Bloomberg Billionaires Index, the publication writes.

Bloomberg noted that as of February 23 last year, Russian billionaires who were among the top 500 richest people in the world had at least $339 billion in total capital in their accounts.

Now, due to the war in Ukraine, the largest decrease in capital is recorded in the main owner of Severstal PJSC Oleksiy Mordashev (the company is considered one of the largest steel producers in Russia) – his capital decreased by 6.7 billion dollars. Currently, approximately 19.8 billion dollars are stored in his personal accounts, which allows him to occupy the place of the fourth richest person in the Russian Federation.

Volodymyr Lisin, the chairman of the board of PJSC Novolypetsk Metallurgical Combine, is in second place in terms of the dynamics of the reduction of his fortune – he lost 5.8 billion dollars in one year, reducing his fortune to 20.5 billion dollars.

However, according to the media, some Russian businessmen have increased their accounts since the beginning of the war. For example, the general director of PJSC “FosAgro” Andriy Guryev took advantage of the instability of the economic market and since the beginning of the war earned 2.1 billion dollars due to the jump in his shares.

“However, an analysis of Russia’s ultra-wealthy suggests that multiple rounds of disparate sanctions from the US, UK and European Union have had limited long-term effect. In fact, the billionaires’ combined net worth bottomed out just weeks after the invasion, falling by $92 billion to $24 billion March 9, 2022,” the agency notes.

In this context, the publication mentions the business problems of the Russian oligarch and Putin’s friend Roman Abramovich, as well as the sanctions against the businessman Mikhail Fridman. The first was forced to sell his real estate in London, together with the famous football club “Chelsea”, and the second – was “shocked” by EU sanctions on his own accounts and trips abroad, writes Bloomberg.

New “blows” from the Russian economy

We will remind you that until the anniversary of the full-scale invasion of the Russian Federation troops into Ukraine, the economy of the aggressor shows more and more stagnation in its indicators and is approaching the level of default.

Separately, the Russian ruble has depreciated against the American currency for the fifth week in a row, and against the European one for the sixth week in a row. Experts state that the current rate of 75.6 rubles per dollar and 80.74 rubles per euro is a record low for the last ten months.

Also today it became known that the Intergovernmental Financial Monitoring Commission (FATF), which is engaged in the fight against money laundering, has indefinitely suspended the membership of Russia due to its inhumane and brutal attacks on critical civilian infrastructure facilities.