Russia’s richest billionaires – including one fighting mega divorce settlement in UK – have seen their wealth GROW by £30billion despite Ukraine sanctions and are ‘laughing all the way to the bank’
Russian billionaires have made astonishing profits despite Western sanctions over Vladimir Putin's war on Ukraine.
The rising wealth comes despite the fact that the sanctions are intended to target tycoons considered close to the dictator.
The media in Ukraine has highlighted the 'never so good' rise in oligarchic money in 2023.
“The wealth of Russia's richest oligarchs increased by $38.575 billion (£30.37 billion) in 2023,” Economicheskaya Pravda (Economic Truth) reported.
The evidence is based on the Bloomberg Billionaires Index.
RBC Ukraine media commented: “Sanctions have no effect? Most oligarchs from the Russian Federation have increased their fortunes in the past year.”
Boris Johnson – then Prime Minister of Britain – promised in February 2022 that “we will agree, in consultation with our allies, on a major package of economic sanctions designed in time to hamper the Russian economy.”
Yet the richest Russians are anything but hobbled. “They're laughing all the way to the bank,” said one comment.
Examples include Putin-linked oligarch Vladimir Potanin, 62, a British-approved nickel tycoon who has seen his £24.2 billion fortune rise by £1.7 billion since the start of the year.
62-year-old nickel magnate Vladimir Potanin is pictured with his estranged wife who plans to file a huge divorce case in London
Putin-linked oligarch Vladimir Potanin has seen his £24.2 billion fortune rise by £1.7 billion since the start of the year. He is currently challenging the court ruling that allowed his wife to initiate mass divorce proceedings in Britain
Russian oligarch Vagit Alekperov (R) – ranked 62nd on the Bloomberg Billionaires Index – pictured with Russian President Vladimir Putin (L)
Russian steel magnate and 'gentleman' Vladimir Lisin, 67, famous for buying a sprawling Scottish estate in Perthshire and approved by Australia, now has a fortune of £18.03 billion – up from £2.42 billion
Russian oligarch Alisher Usmanov (R) – 82nd on the Bloomberg Billionaires Index, pictured with Vladimir Putin (L)
He has gone to the British High Court to challenge a ruling allowing ex-wife Natalia, 62, to file a multi-billion dollar divorce case in London, which could become the largest in English legal history.
Major shareholder of Russian gas company Novatek, Leonid Mikhelson, 68, has recorded a £2.13 billion jump in his wealth, which now stands at £21.5 billion.
Lukoil founder Vagit Alekperov, 73, has seen a £7.2 billion increase, taking his fortune to £19.3 billion since the start of the year, despite sanctions from Britain and Australia.
This comes as Lukoil saw the mysterious deaths of four high-ranking figures associated with the company during the war.
Among them were Vladimir Nekrasov, 66, chairman of Lukoil's board of directors, who died “suddenly” last month, and tycoon Ravil Maganov, 67, who fell from a window at Moscow's elite Central Clinical Hospital, also known as the Kremlin Clinic. in September last year.
Russian steel magnate and 'gentleman' Vladimir Lisin, 67, famous for buying a sprawling Scottish estate in Perthshire and approved by Australia, now has a fortune of £18.03 billion – up from £2.42 billion.
Former Arsenal shareholder Alisher Usmanov, 70, the 82nd richest man in the world, whose company also had links to Everton, saw his fortune rise to £15.98 billion, up from £1.47 billion.
Now living in his native Uzbekistan despite close ties to the Kremlin, he made his wealth through mining, metals and mobile phones.
He has been sanctioned by Britain, the US and the EU.
Steel and mining magnate Alexey Mordashov, 58, who studied at Northumbria University in Britain, saw his fortune rise £486 million to £15.2 billion.
He was also sanctioned by Britain, the US and the EU.
All the above-mentioned oligarchs are on the list of the hundred richest tycoons in the world.
Former Arsenal shareholder Alisher Usmanov, 70, the 82nd richest man in the world, whose company also had links to Everton, saw his fortune rise to £15.98 billion, up from £1.47 billion
Russian oligarch Vladimir Lisin (L) – 72nd on the Bloomberg Billionaires Index, pictured with Vladimir Putin (R)
Russian oligarch and former Chelsea owner Roman Abramovich – ranked 293rd on the Bloomberg Billionaires Index
Russian oligarch Gennady Timchenko (R), 133rd on the Bloomberg Billionaires Index, pictured with Vladimir Putin (R)
Roman Abramovich – former Chelsea owner and now, at the age of 57, the 293rd richest person in the world – is listed with a fortune of £7.95 billion.
This suggests a rise of £104 million for the British-sanctioned tycoon last year, when several super-rich Russians took a hit after the outbreak of war.
Other Russian billionaires who saw their fortunes rise during Putin's brutal conflict include fertilizer and coal magnate Andrei Melnichenko, 51, whose fortune rose £3.17 billion to £13.54 billion.
Metals and investment magnate Mikhail Prokhorov, 58, who was sanctioned by Ukraine, saw a £1.42 billion increase in his fortune, making him worth £11.8 billion.
Uber-Putin-friendly Gennady Timchenko, 71, has seen his wealth rise by £2.11 billion to £11.4 billion despite sanctions from Britain, the US and the EU, and banking billionaire Mikhail Fridman, 59, is £513m better off. years, as the figures show.
This brings his net worth to £9.44 billion despite US sanctions.
Fertilizer magnate and investor Dmitry Rybolovlev, 57, now has a fortune of £8.74 billion, up from £513 million so far this year.
The top 500 richest people still include about 25 Russians.