JRL NEWSWATCH: “Squeezed by Sanctions, Some Oligarchs Are Heading Home to Putin’s Russia” – Bloomberg
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“Putin’s war in Ukraine is leaving billionaires who sought to integrate with the West to face the reality of international isolation.”
“… Russia’s invasion of Ukraine changed everything for [certain Russian oligarchs] … who prospered under Putin until the U.S. and Europe imposed sweeping sanctions aimed at isolating the Kremlin leader and bringing his economy to its knees. The penalties largely failed to achieve those goals so far … [yet] destroyed the standing of many wealthy Russians abroad who remained silent or avoided direct criticism of Putin over the war. While sanctions have hurt their lifestyles and made them business pariahs in the West, the personal impact pales in comparison to the death and destruction inflicted on Ukraine by Putin’s war machine …. Though their assets outside Russia may be frozen, the country’s billionaires remain hugely wealthy. …”