Tag

Oligarchs

All articles tagged with #oligarchs

world23 days ago•7 min saved

Putin's Inner Circle Fractures as Elites Move Billions Abroad

Russia’s ruling elite is growing impatient with the war and a collapsing economy; top bankers and oligarchs have moved tens of billions abroad amid fears of upheaval, prompting tighter security around Putin’s residence. Kazakh President Tokayev urged freezing the conflict, while a Kremlin propagandist broke on air, calling the war a ‘giant mistake’ and warning of border-area relocations and drone-interceptor shortages as Putin denies responsibility.

via Kyiv Post|

#economy #kremlin #oligarchs

business1 month ago•1 min saved

Russia’s ultra-rich stash billions abroad amid asset seizure fears

Bloomberg reports that several of Russia’s wealthiest businessmen have moved billions of dollars out of the country over the past year, shifting into cryptocurrency, gold, and overseas real estate as concerns over asset seizures, the economy, and war funding mount. Some are close to Putin, and asset seizures have occurred (e.g., Dmitry Kamenshchik). Two sources estimate tens of billions have left so far this year; sanctions complicate transfers, with channels like A7/A7A5 and PSB cited as routes. At a closed-door meeting, Putin reportedly urged contributions to the war, though the Kremlin said fundraising was voluntary.

via Meduza|

#business #capital-flight #cryptocurrency

politics1 month ago•9 min saved

Mamdani rails against ICE and oligarchs in America 250 immigration address

New York City Mayor Zohran Mamdani used a City Hall speech marking America’s 250th anniversary to denounce ICE, wealth concentration, and what he called an 'arena of supremacy,' while praising immigrants and urging 'righteous dissent.' Standing with eight newly naturalized citizens, he criticized monopolies and the influence of the wealthiest, cited Elon Musk without naming him, and framed patriotism as active, principled dissent rather than support for exclusion. He connected immigrant histories to the nation’s founding ideals and shared his own naturalization story, calling for a more inclusive, democratic America.

via Fox News|

#america250 #ice #immigration

world2 months ago•2 min saved

Russian MP warns of social upheaval over war, calls for clear plan to end conflict

Vyacheslav Markhayev, a Communist Party deputy and candidate in the September State Duma elections, blasted the Kremlin over the Ukraine war, warning that rising utility bills and failing infrastructure threaten a social explosion unless a clear plan to end the conflict is announced; Moscow Times notes the party is unlikely to field strong challengers, signaling limited change ahead.

via TVP World|

#communist-party #oligarchs #russia-politics

world3 months ago•18 min saved

Putin’s War: Wealth for Allies, Suffering for the Masses

An in-depth interview argues Russia’s war is sustained by a mafia-like regime that treats soldiers as expendable and rewards a Putin inner circle with vast wealth, while ordinary Russians shoulder casualties and economic pain. It claims 90% of nationalized wealth went to loyalists, highlights propaganda and the suppression of dissent, and warns of looming mobilization or terror as the system cracks. The piece suggests Ukraine’s victory or a truth-and-reform process is needed to free Russia from an imperial, movement-driven mentality, and criticizes Western leadership for its ignorance about Russia.

via Kyiv Post|

#corruption #oligarchs #putin

world4 months 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

europe4 months 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

politics5 months 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

defense5 months 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

world5 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

world5 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

world8 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-relations3 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