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Thu Mar 3, 2022, 02:15 PM

It's not the best time to be a Russian oligarch

If Russia's oligarchs weren't already shaking in their custom Italian-leather boots, they probably are now.

In his first State of the Union address Tuesday night, President Joe Biden addressed Russian President Vladimir Putin's cronies directly, telling them that the United States and its allies are coming to "seize your yachts, your luxury apartments, your private jets."
The message underscored how much the ground is shifting beneath the well-heeled feet of Russia's oligarchs, a class of businessmen who amassed their billions in personal wealth by leveraging their connections to the Kremlin in the 1990s carve-up of the former Soviet Union's assets.
Since Putin's invasion of Ukraine, Western governments have sought to freeze the oligarchs' overseas assets along with Putin's, as well as prevent them from traveling. The goal is two-pronged: Sanctions act as both a punishment for Russia's ruling class and a cudgel to try to force Putin to back down.
It's safe to say the sanctions have, at least so far, successfully grabbed the oligarchs' attention.
Roman Abramovich, a 55-year-old worth an estimated $13.5 billion, on Wednesday announced he is selling his beloved Chelsea Football Club, which he acquired in 2003. Even though Abramovich has not yet been named on sanctions lists, UK lawmakers are pressuring leaders to do so. The tycoon is reportedly offloading some of his London properties in anticipation of sanctions.
"He's terrified of being sanctioned, which is why he's already going to sell his home tomorrow and sell another flat as well," British lawmaker Chris Bryant said, according to Bloomberg.

https://www.cnn.com/2022/03/02/business/russian-oligarchs-sanctions-assets/index.html

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Reply It's not the best time to be a Russian oligarch (Original post)
Jilly_in_VA Mar 2022 OP
PortTack Mar 2022 #1
Ohio Joe Mar 2022 #2
smirkymonkey Mar 2022 #5
Mme. Defarge Mar 2022 #3
Omnipresent Mar 2022 #4
Doodley Mar 2022 #6
Chainfire Mar 2022 #7

Response to Jilly_in_VA (Original post)

Thu Mar 3, 2022, 02:21 PM

1. For what it's worth, it's reported Abramovich says the money from the sale will go to help the

Ukrainians and denounced Putinís actions

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Response to Jilly_in_VA (Original post)

Thu Mar 3, 2022, 02:22 PM

2. If they don't like it...

They should clean house and remove the cause of their problem... The problem being old Vlad.

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Response to Ohio Joe (Reply #2)

Thu Mar 3, 2022, 02:24 PM

5. Seems like there is some incentive.

 

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Response to Jilly_in_VA (Original post)

Thu Mar 3, 2022, 02:23 PM

3. But the UK still has their backs

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Response to Jilly_in_VA (Original post)

Thu Mar 3, 2022, 02:23 PM

4. The oligarchs are probably planning to assassinate Putin.

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Response to Jilly_in_VA (Original post)

Thu Mar 3, 2022, 02:28 PM

6. Nothing talks like money.

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Response to Jilly_in_VA (Original post)

Thu Mar 3, 2022, 02:28 PM

7. Yea, but the buzzards are always the last to feast.

The staff is still bringing their vodka and caviar for breakfast. These are people who can lose a billion dollars and still be solvent.
The only thing that this particular brand of buzzard will miss is the ability to fly to somewhere civilized to dine. They will still be Gods in their own domain. As long as they are copulating with Putin, they will be happy in their nests.

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