May 25, 2024

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In the midst of the war, 15,000 Russian millionaires are trying to leave the country

Reproduction / Forbes

Fearing the economic impact of the war, about 15,000 Russian millionaires are trying to flee the country

Thousands Millionaires Russians May be preparing to leave their country War with Ukraine Continuing, the UK Ministry of Defense in its daily intelligence update today points to potential opposition or concerns among the Russian elite about the economic cost of foreign sanctions.

About 15,000 Russian millionaires have filed deportation requests and may be preparing to leave the country, according to an intelligence update.

Read more: Despite McDonald’s leaving the country, the Big Mac is still sold in Russia

The ministry notes that the possible exodus could be triggered by popular “personal opposition to the invasion” or fears of the economic impact of Western sanctions against Russia.

The update notes that the exodus of large numbers of wealthy Russians will only worsen its long-term economic prospects.

Despite the efforts Kremlin To quell all opposition to the war, many Russians have joined the so-called “Independent Legion for Russia”, which is now fighting alongside Ukrainian forces, the report added.

As its progress in Ukraine slowed, Moscow enacted laws to quell any opposition to the war, including up to 15 years in prison for sharing false information about the military. Most of the Russian elite either supported the war or remained silent about it. Those who spoke out against the invasion, such as Oleg Tinkov, a bank tycoon and former billionaire, would have faced a backlash from the government. Last month, Dingov said he was forced by the Kremlin to sell his stake in Russia’s second-largest bank without any negotiation opportunities. Dingov, now living in Italy, spoke out against what he called the “war of madness.” The former billionaire suggested that many members of Russia’s business and government elite personally agreed with him but were too afraid to speak publicly.

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Since the beginning of the Russian invasion many Russian oligarchs and their foreign assets have been targeted by Western sanctions. This led to the seizure of millions of dollars worth of boats and villas belonging to oligarchs with close ties to Russian President Vladimir Putin.

Earlier this month, US officials formally seized a super boat belonging to Russian gold tycoon and billionaire Suleiman Kerim. The boats of other Russian billionaires Igor Chechin and mining tycoon Alisher Usmanov were also seized by European authorities. The biggest highlight of these seizures was the capture last month by Italian authorities of a super boat believed to belong to Putin.

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