13.2 C
New York
Wednesday, May 25, 2022

From a multimillionaire life to 2,900 euros in pocket per month: Russian oligarch says he does not know how to live since the sanctions

- Advertisement -
- Advertisement -

Mikhail Fridman

Russian oligarch Mikhail Fridman has said he does not know how to live three weeks after sanctions were imposed on him. This reports “Bloomberg”.

Mikhail Fridman is Ukrainian by birth, co-founder of London-based investment firm LetterOne, and co-founder and former CEO of Alfa Bank of Russia, one of Russia’s largest financial groups.

He was one of the first oligarchs to criticize Russia’s war, declaring that “war can never be the answer.” In a letter to his employees, he called for an end to the bloodshed, according to his company. At the time, however, he called EU sanctions against him “baseless and unjust” and wanted to challenge them, according to Reuters.

Fridman has a net worth of $10.1 billion, according to the Bloomberg Billionaires Index. It was sanctioned by the European Union on February 28 and by Great Britain on March 15. Since then, his fortune has shrunk by $4 billion, according to Bloomberg.

“I don’t know how to live,” Fridman told Bloomberg. “I really do not know”. The sanctions meant that his last working UK bank card was also frozen.

About 2,900 euros “pocket money” per month

He currently lives in the UK and has £2,500 a month in pocket money. For other expenses, he would have to apply for a government permit, Fridman said.

Referring to the war and the people of Ukraine, Fridman also said, “My problems really are nothing compared to their problems.”

Fridman resigned from the Alfa-Bank board a day after the EU sanctions were imposed. He also resigned from the board of investment firm LetterOne.

The sanctions against him would have surprised him. He believed he had good relations with the West because of his trips to Washington, DC and an Alfa Bank grant program he started in 2004 for American, British and German citizens.

“We really believed that we were such good friends with the Western world that we couldn’t be punished,” he told Bloomberg.

This article was last updated on March 18, 2022. It was released on March 17, 2022.

Read the original article on Business Insider

Source link

- Advertisement -

New Articles