Tag: Alexander Abramov

In the wake of the "crazy war" in Ukraine, the Russian oligarchs are the strategic focus of the Western sanctions aimed at exerting pressure on the Russian government. Most recently, Oleg Tinkov, an oligarch excommunicated by the Kremlin, has called his former comrades cowards and urged them to take action against Putin. However, according to the latest Forbes statistics, Russian billionaires have become significantly richer since the outbreak of the Ukraine invasion.

The U.S. and EU apparently want to increase pressure on Putin through the oligarchs. The assets are mainly in bank accounts or real estate abroad. Or in ports. U.S. President Joe Biden fired a warning shot at Russian oligarchs during his State of the Union address on Tuesday evening, saying that the U.S. will seize much of their wealth in the country. "We are joining with our European allies to find and seize your yachts, your luxury apartments, your private jets," Biden said in his address. "We are coming for your ill-begotten gains."