The Russian Elite Can’t Stand the Sanctions
The United States, United Kingdom, and European Union had barely announced sanctions on overseas Russian wealth when the oligarchs began to whine and protest. That meant the policy—enacted after Russia invaded Ukraine—was working as intended, to punish Russia’s elites for supporting President Vladimir Putin. By last weekend in Moscow, the Russian-state-television host Vladimir Solovyev raged on camera over what the sanctions would mean for him personally: loss of access to his two luxury homes in Lake Como, Italy, near the villa of George Clooney.
Amid a broad suite of economic sanctions targeting the Russian financial system, which has driven the ruble’s value , Western powers also are their efforts to identify and freeze the assetsurged an end to Putin’s war. This was a startling break in ranks among the country’s elites. Deripaska is on the U.S. sanctions list; Fridman is on the EU’s. Even those who have not yet faced individual sanctions appear to be feeling pressure. Another billionaire businessman and close associate of Putin’s, Roman Abramovich, has put his British soccer club up for sale and
