8 Russian Oligarchs Who Lost The Most to Sanctions

Sanctions against Russia were first imposed in 2014 in response to the country’s annexation of Crimea. Since then, the U.S. and European Union have steadily increased the pressure, expanding the sanctions to target more individuals and businesses. The result has been a major blow to Russia’s economy, and some of the country’s wealthiest citizens have borne the brunt of the pain. Here’s a list of how big a hit some of the country’s oligarchs have taken.

8 Russian Oligarchs Who Have Lost the Most to Sanctions

Vladimir Yevtushenkov

Vladimir Yevtushenkov is the chairman of the board of directors of AFK Sistema, a large conglomerate with interests in oil, telecommunications, media, banking, and retail. He has an estimated net worth of $9.4 billion.

Since 2014, Yevtushenkov has lost over $3 billion due to sanctions. His company’s stock price has been hit hard, and he was forced to sell off some of his assets. In 2017, he was placed under house arrest on suspicion of money laundering. Although the charges were eventually dropped, the episode illustrates the lengths to which the Russian government is willing to go to target those who have been hurt by sanctions.

Oleg Deripaska

Oleg Deripaska is the owner of Rusal, the world’s second largest aluminum producer. He has an estimated net worth of $5.3 billion.

Since 2014, Deripaska has lost over $4.5 billion due to sanctions. His company’s stock price has plummeted, and he has had to sell off assets to raise cash. In 2018, the U.S. Treasury Department imposed sanctions on Deripaska, accusing him of “playing a significant role in advancing Russia’s malign activities.”

Mikhail Prokhorov

Mikhail Prokhorov is the owner of the Brooklyn Nets and a former chairman of Russian metals giant Norilsk Nickel. He has an estimated net worth of $9.6 billion.

Since 2014, Prokhorov has lost over $2 billion due to sanctions. His company’s stock price has been hit hard, and he has had to sell off assets to raise cash. In 2016, Prokhorov was forced to step down from his role at Norilsk Nickel after the U.S. Treasury Department imposed sanctions on the company.

Vladimir Lisin

Vladimir Lisin is the owner of Novolipetsk Steel, one of the largest steel producers in Russia. He has an estimated net worth of $16.4 billion.

Since 2014, Lisin has lost over $3 billion due to sanctions. His company’s stock price has been hit hard, and he has had to sell off assets to raise cash. In 2016, the U.S. Treasury Department imposed sanctions on Novolipetsk Steel, accusing the company of “undermining the Ukraine people’s right to choose their own future.”

Alexey Miller

Alexey Miller is the chairman of the board of directors of Gazprom, Russia’s state-owned gas giant. He has an estimated net worth of $13.4 billion.

Since 2014, Miller has lost over $1.5 billion due to sanctions. His company’s stock price has been hit hard, and he has had to sell off assets to raise cash. In 2016, the U.S. Treasury Department imposed sanctions on Gazprom, accusing the company of “enabling the Russian government to benefit from the conflict in Ukraine.”

Leonid Mikhelson

Leonid Mikhelson is the chairman of the board of directors of Novatek, Russia’s largest independent natural gas producer. He has an estimated net worth of $22.4 billion.

Since 2014, Mikhelson has lost over $4 billion due to sanctions. His company’s stock price has been hit hard, and he has had to sell off assets to raise cash. In 2016, the U.S. Treasury Department imposed sanctions on Novatek, accusing the company of “propping up” the Russian government.

Andrey Melnichenko

Andrey Melnichenko is the owner of SUEK, Russia’s largest coal producer. He has an estimated net worth of $13.4 billion.

Since 2014, Melnichenko has lost over $2.5 billion due to sanctions. His company’s stock price has been hit hard, and he has had to sell off assets to raise cash. In 2016, the U.S. Treasury Department imposed sanctions on SUEK, accusing the company of “undermining the Ukraine people’s right to choose their own future.”

Viktor Vekselberg

Viktor Vekselberg is the owner of Renova Group, a large Russian conglomerate. He has an estimated net worth of $13.4 billion.

Since 2014, Vekselberg has lost over $3.5 billion due to sanctions. His company’s stock price has been hit hard, and he has had to sell off assets to raise cash. In 2018, the U.S. Treasury Department imposed sanctions on Vekselberg, accusing him of “playing a significant role in advancing Russia’s malign activities.”

These are just a few of the Russian oligarchs who have been hit hard by sanctions. With the Trump administration’s new round of sanctions, we can expect to see more billionaires lose billions.

What the Sanctions Do

The sanctions have hit Russia’s economy hard. They have limited Russian companies’ access to international capital markets, restricted their ability to import Western technology, and reduced their exports. The sanctions have also contributed to the decline in the value of the Russian ruble.

The Effect of the Sanctions on the Russian Economy

The sanctions have had a negative effect on the Russian economy. They have limited Russian companies’ access to international capital markets, restricted their ability to import Western technology, and reduced their exports. The sanctions have also contributed to the decline in the value of the Russian ruble.

There is a debate over what should be done about the sanctions. Some people argue that the sanctions should be lifted, as they are hurting innocent Russians. Others argue that the sanctions should be kept in place, as they are an effective way to pressure the Russian government.

What Russian Billionaires Should Do

Russian billionaires should take steps to protect their wealth, such as diversifying their investments and moving their assets out of Russia. They should also be prepared for the possibility that the sanctions may be extended or expanded in the future.

They should do crisis management training to help them deal with the effects of the sanctions. This will help them to be better prepared for the challenges they may face in the future.

The sanctions have had a negative effect on the Russian economy and the oligarchs who control it. The oligarchs have lost billions of dollars in wealth, and the economy has been hit hard by the sanctions. There is a debate over what should be done about the sanctions, but it is clear that they are here to stay. Russian billionaires should take steps to protect their wealth and prepare for the challenges that the sanctions may bring in the future.