Tag

Oligarchs

All articles tagged with #oligarchs

world29 days ago•5 min saved

Asset Exodus in Hungary: Orbán-Linked Oligarchs Rush Wealth Overseas as Power Shifts

Following Hungary’s electoral defeat for Viktor Orbán’s party, several Fidesz-linked oligarchs are reportedly transferring tens of billions of forints abroad—via private jets and international transfers—to destinations including the UAE and the United States as a preventive shield against possible asset freezes; the move comes as the new government pledges a crackdown on corruption and some officials seek US visas, signaling a rapid scramble of wealth ahead of a likely overhaul of Hungary’s political and economic landscape.

via The Guardian|

#cronyism #hungary #note5-tags-requested-but-only-five-allowed-keeping-five

europe1 month ago•11 min saved

Incoming Hungary PM Alleges Orbán-Linked Oligarchs Are Fleeing with Billions

Incoming Hungarian Prime Minister Péter Magyar accused Viktor Orbán‑connected oligarchs of siphoning billions from Hungary and fleeing abroad, with some reportedly moving assets and even children toward destinations like Dubai; he urged asset freezes and arrests as Hungary transitions from the Fidesz era and Ukraine-related EU loan dynamics unfold.

via Kyiv Post|

#corruption #europe #hungary

politics1 month ago•187 min saved

Kremlin denies Putin pressed oligarchs to fund war, calls it a personal decision

Kremlin spokesman Dmitry Peskov denied reports that President Vladimir Putin urged Russian oligarchs to fund the Ukraine war, saying any call for a large sum was a participant’s personal decision. The Financial Times cited unnamed sources; the piece notes Russia’s budget deficit and rising military spending. Reports highlighted Suleyman Kerimov as naming a 100 billion rubles contribution, with Bell noting others supported the idea and that the initiative may have originated with Putin. Peskov said the businessman justified it by ties to the state. Putin also warned oligarchs against wasting windfall oil profits.

via The Kyiv Independent|

#kremlin #oligarchs #politics

defense1 month ago•26 min saved

Putin Eyes Oligarch Cash as War Pressure Grows, Hinting at Asset Nationalization

ISW reports Putin privately pressed Russia’s top businessmen to fund the state to stabilize finances for continuing the war, with hints of asset nationalization; Kremlin officials deny a direct fundraising request and say it was a personal decision, while attendees felt a sense of duty. Separately, Ukraine and Saudi Arabia signed a defense cooperation pact; Ukrainian strikes hit Russian oil infrastructure near the Baltic Sea; Latvia warned of Russian cognitive warfare against the Baltic states. On the battlefield, no confirmed ground advances were reported on March 27, as Russia and Ukraine continued long-range strikes and Russia conducted a large drone campaign (about 102 drones launched, roughly 93 downed).

via Institute for the Study of War|

#defense #nationalization #oligarchs

world2 months ago•55 min saved

Kremlin says Putin did not ask oligarchs to fund Russia’s finances

The Kremlin on Friday denied reports that President Vladimir Putin asked leading businessmen to donate money to stabilise Russia’s finances for the war in Ukraine, saying no such request was made and that a named donor wasn’t identified. The Bell had reported at a closed-door meeting that a participant pledged a “very large” sum, with The Bell naming billionaire Suleiman Kerimov’s pledge of 100 billion roubles; Kremlin spokesman Dmitry Peskov said the initiative came from the donors themselves and wasn’t a Kremlin directive, and that the money wasn’t necessarily for the war. The article notes Russia’s budget deficit and slower growth, but hints at potential oil-price windfalls and possible spending cuts this year.

via Reuters|

#budget #oligarchs #putin

world2 months ago•2 min saved

Putin Seeks Oligarch Donations to Shore Up Russia’s War Budget

President Vladimir Putin reportedly asked Russia’s oligarchs to donate to the defence budget to sustain the Ukraine invasion, with at least two businessmen indicating willingness to contribute; Moscow’s defence spending has risen and authorities are weighing windfall taxes as sanctions bite, while Zelenskyy says US security guarantees hinge on Kyiv ceding Donbas.

via The Guardian|

#defence-budget #donbas #oligarchs

world4 months ago•5 min saved

Putin Maintains Billionaire Support Amid Russia's War

During Putin's 25-year rule, Russia's billionaires have maintained their wealth and influence despite Western sanctions and the war in Ukraine, largely due to Kremlin loyalty and strategic economic policies, with many benefiting from the conflict and its associated economic growth.

via BBC|

#oligarchs #putin #russia

politics-and-international-relations2 years ago•2 min saved

"Justice Department Takes Legal Action Against Sanctioned Russian Oligarchs"

The Justice Department has announced a series of criminal and civil actions targeting sanctioned Russian oligarchs and individuals supporting the Kremlin and its military, with the aim of cutting off the flow of illegal funds fueling Putin's war in Ukraine. The enforcement actions, led by the Task Force KleptoCapture, have resulted in about 70 criminal cases against individuals and five against corporate entities, as well as the seizure of approximately $700 million worth of assets. The department also plans to transfer these assets to Ukraine or use them in aid. Additionally, the White House is set to announce a new sanctions package against Russia, aimed at holding President Vladimir Putin accountable for Russia's war in Ukraine and the death of opposition figure Alexey Navalny.

via CNN|

#justice-department #oligarchs #politics-and-international-relations

businesspolitics2 years ago•0 min saved

"The Rise and Fall of Modern-Day Oligarchs: Insights from Putin to Musk"

This article explores the rise of modern-day oligarchs, from Russian President Vladimir Putin to tech entrepreneur Elon Musk, examining their accumulation of wealth and power in different spheres. It delves into the similarities and differences between these influential figures, shedding light on their impact on global politics and business.

via Financial Times|

#businesspolitics #musk #oligarchs

international-relations2 years ago•1 min saved

"U.S. Sends Oligarchs' Cash to Ukraine, Kremlin Loses Control"

The Kremlin has expressed outrage after the U.S. announced it would be sending $5.4 million seized from sanctioned Russian oligarchs to Ukrainian veterans. The move comes just a day after Moscow's forces killed 16 civilians in Ukraine. While the U.S. State Department has not disclosed the specific individuals whose assets are being handed over, the amount matches that ordered seized from oligarch Konstantin Malofeyev, who was indicted for evading sanctions and running pro-Kremlin media outlets. This marks the first time funds confiscated from Kremlin allies are being redirected to Ukraine, with U.S. Secretary of State Antony Blinken stating that those who enabled Putin's aggression should pay for it.

via Yahoo Canada Finance|

#international-relations #kremlin #oligarchs

politics2 years ago•2 min saved

"Russian Oligarch Turned Pariah: How Putin's Invasion of Ukraine Shattered Lives"

Andrey Melnichenko, one of Russia's richest oligarchs, has described himself as a "pariah" in the United Arab Emirates (UAE) where he now resides after being sanctioned for attending a roundtable hosted by Vladimir Putin. Melnichenko, who made his fortune in coal and fertilizers, criticized the effects of Russia's invasion of Ukraine on his personal life and claimed there were "war crimes from both sides" in the conflict. Several other Russian oligarchs have also faced sanctions and experienced significant changes in their lives, including former Chelsea FC owner Roman Abramovich, who sold the club and now resides in Israel.

via Yahoo Finance|

#oligarchs #politics #russia

business2 years ago•1 min saved

Russian Oligarch Finds Sanctuary in Dubai, Despite Pariah Status

Andrey Melnichenko, one of Russia's wealthiest individuals, has described himself as a "pariah" in the UAE, where he now resides after being sanctioned due to his attendance at a roundtable hosted by Vladimir Putin. Melnichenko, who made his fortune in coal and fertilizers, criticized the impact of Russia's invasion of Ukraine on his personal life and claimed to have no involvement in politics or the promotion of war. Several other Russian oligarchs have also faced significant changes in their lives and net worth due to sanctions imposed on them.

via Business Insider|

#andrey-melnichenko #business #oligarchs

opinion3 years ago•0 min saved

The Ongoing Battle Against Oligarchy in Ukraine

Ukraine's retention of democracy and peaceful turnover of power has made it a threat to Putin's autocratic regime, leading to his invasion in 2022. The author argues that Ukraine's oligarchs, while flawed, have played a crucial role in maintaining this democracy and should be supported rather than demonized.

via The Wall Street Journal|

#democracy #oligarchs #opinion

politics3 years ago•2 min saved

Former CIA Chief Warns Putin's Life in Danger

Former CIA chief James Olson believes that Russian President Vladimir Putin could be ousted from power due to a strong undercurrent of opposition in the military and among oligarchs, as well as the huge loss of life suffered by Russia's troops in the Ukraine war. Olson believes that Putin will either be killed or removed from power, and would not rule out assassination. Disgruntled military leaders could be the source of an uprising against Putin, and if they do that, Olson sees Putin as a "dead man walking."

via Business Insider|

#assassination #military #oligarchs

politics3 years ago•4 min saved

Insights into Putin's Ukraine War Strategy and Potential Consequences.

Some of Putin's top officials and influential oligarchs are secretly against the war in Ukraine, according to former NATO intelligence chief Mikk Marran. Marran said tensions are growing within the Kremlin, but Putin still has a good grip on power. Reports suggest that 15 top businessmen withdrew from the Russian Union of Industrialists and Entrepreneurs, including billionaires Araz Agalarov, Leonid Fedun, and Alisher Usmanov. Marran said the oligarchs might be unhappy, but they are still worried about their businesses. Despite the problems caused by the war and Western sanctions, the prospects for the current regime collapsing and the country democratising are slim, according to Estonia's Foreign Intelligence Service.

via Newsweek|

#oligarchs #politics #putin