The overall wealth of Russian billionaires has fallen since the beginning of 2022, and by June 1, big businessmen had collectively lost about $41.5 billion.
Foreign companies withdrew from Russia following the start of an all-out war against Ukraine, pulling an estimated $36 billion out of the country in 2022. This was reported by Deutsche Welle with reference to the head of the analytical department of the Russian bank BKF Maxim Osadchy.
The expert analyzed the data of the Central Bank of Russia that from March 2022 to March 2023, 200 transactions were concluded for the sale of assets by companies leaving the Russian Federation.
According to him, only 20% of such companies lost assets of more than $100 million.
Assuming that the Pareto 80/20 rule for the size of assets is fulfilled, we can estimate that the amount of capital attracted by foreign investors from Russia is around $36 billion.
Important
It should be noted that foreign investors began to restrict their activities in Russia after the war started by the Putin regime in Ukraine and after the Western countries expanded their sanctions against Russia in response to this.
Billionaires are getting poorer too
The overall wealth of Russian billionaires has fallen since the beginning of 2022, and by June 1, big businessmen lost a total of $ 41.48 billion. Gennady Timchenko and Leonid Mikhelson, owners of the Novatek gas company and the Sibur petrochemical holding, suffered the most, according to the Bloomberg Billionaires Index. Their wealth decreased by $7.06 billion and $6.65 billion, respectively.
As a reminder, at the beginning of May 2023 Focus reported that the court detained approximately $3 million from the accounts of a business owned by sanctioned Russian oligarch Mikhail Voevodin and transferred it to the National Asset Monitoring Agency (ARMA).
And at the end of March, the property of the Ukrainian factory VSMPO Titan was arrested in Ukraine. The beneficiary of the initiative is Russian oligarch Mikhail Shelkov. According to Ukrainian inspectors, factory officials used several schemes to “minimize” tax payments at once.
Source: Focus
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