The broadside to their fortunes has been swift since President Vladimir Putin’s decision to invade Ukraine. Russia’s ultra-rich who rank among the world’s 500 wealthiest people have now lost a combined $83 billion this year, according to the Bloomberg Billionaires Index.
Market declines have been so extreme that Russia’s central bank halted local trading on Monday, meaning some of the losses are understated. Shares of London-listed Russian companies, from gas producer Novatek to steelmaker Severstal, tumbled by more than 50% on Monday after the U.S., U.K., European Union and other countries ratcheted up sanctions.Roaming the skies in their Boeing, Gulfstream and Bombardier jets is now trickier after the EU joined the U.K.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Philippines Latest News, Philippines Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick: Commodities From Gold to Grains Rally as Russia Faces IsolationCommodities from wheat and gold to aluminum rallied in a jittery start to the week, as traders grapple with a fraught geopolitical environment and an array of supply risks triggered by war in Ukraine. Spinning this as good news runs against the already dire situation of our poorest. High grain/maize prices = high profits for farmers and industry = greater unaffordability for the poor. And we also already know that greater demand does not = more jobs any longer...
Source: dailymaverick - 🏆 3. / 84 Read more »
German soccer teams add their voices to Russia boycott - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.German soccer club Schalke 04 tweeted on Thursday (February 25) it was removing the logo of Gazprom from its shirts due to recent developments after Russia launched an all-out invasion of Ukraine. they must do the same with Israel companies
Source: SABCNews - 🏆 37. / 51 Read more »
Guterres calls on Russia and Ukraine to guarantee access and safety of humanitarian aid personnel - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Guterres says the UN is now working 24 hours, seven days a week to scale up the delivery of life saving support to people desperate for protection and shelter. RussiaUkraineWar
Source: SABCNews - 🏆 37. / 51 Read more »
World closes its airspace for Russia over Ukraine invasion - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Greece on Monday joined a number of European nations in closing its airspace for all Russian aircraft in line with a European Union decision. Europe and Canada moved on Sunday to shut their airspace to Russian aircraft, an unprecedented step aimed at pressuring President Vladimir Putin to end his invasion of Ukraine, the biggest attack …
Source: SABCNews - 🏆 37. / 51 Read more »
IN BRIEF: Developments around the Russia-Ukraine conflict - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.With no near end in sight, the conflict between Russia and Ukraine has now entered its fifth day. Here’s what you need to know about what has happened thus far.
Source: SABCNews - 🏆 37. / 51 Read more »
Ukraine submits application against Russia to ICJ - Zelenskiy - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Ukraine's President Volodymyr Zelenskiy said on Sunday his nation had submitted an application against Russia to the International Court of Justice (ICJ).
Source: SABCNews - 🏆 37. / 51 Read more »