Thousands of Russian millionaires are trying to leave the country, says UK – POLITICO
Around 15,000 millionaires are likely to be trying to leave Russia, according to migration demands, UK MoD announced Friday.
The moves come as the West drops the hammer on the Russian economy, following the Kremlin’s launch of its brutal full-scale invasion of Ukraine.
“The motivations most likely include both personal opposition to the invasion and an intention to escape the financial impact of sanctions imposed on Russia,” the UK ministry notes. “If this exodus were to continue, it will likely compound the long-term damage of the war on the Russian economy.”
Russia’s wealthiest have been roughed up since the start of the war, due to sanctions, the freezing of their assets and the general instability of the Russian economy.
Forbes reported in April that Russian billionaires have lost an average of 27% of their wealth compared to 2021. Some have even dropped the magazine’s list of the world‘s billionaires — 83 Russians are still on it, 34 less than the ‘last year.
The oligarchs attempted to retaliate against Western sanctions. At least 20 of Russia’s most powerful tycoons have sued the EU to unfreeze their assets and unfreeze their visas, including former Chelsea football club owner Roman Abramovich, who was sanctioned in March.