Categories: Market

Richest Russian complains of high losses

Alexey Mordashov, 57, was the richest man in Russia before the Ukraine war broke out. The billionaire complained Wednesday of massive losses from western sanctions, according to the Interfax news agency. “We at Severstal lost just over $400 million – they were stranded in Europe, their property and cash reserves were confiscated,” the 57-year-old said. He adds that it is very difficult to return export earnings to the country at the moment.

Severstal is chairman of the steel company Severstal. Before the Ukraine war, Mordashov was at the top of the “Forbes” list of Russian billionaires, according to the AWP agency. Mordashov was one of the first to enter western sanctions lists, due to his stake in a bank and a media conglomerate, both considered close to the Kremlin.

Billionaire forced to give up luxury yacht

His fortune is said to have dropped from $29.1 billion last year to $13.2 billion. Mordashov describes the sanctions against him as unjust and sees himself away from politics.

The billionaire was known as a steel magnate and the largest single shareholder of the Tui tourism group. Due to the sanctions, he gave 29.9 percent of the shares to his wife Marina. A luxury yacht belonging to his property was also confiscated.

According to the AWP report, European Commission President Ursula von der Leyen on Wednesday demanded that Russia and Russian oligarchs pay Ukraine compensation for the consequences of the war and for the rebuilding of the devastated neighboring country. (euro)

advertisement

Ulrich Rotzinger
Source :Blick

Share
Published by
Tim

Recent Posts

Terror suspect Chechen ‘hanged himself’ in Russian custody Egyptian President al-Sisi has been sworn in for a third term

On the same day of the terrorist attack on the Krokus City Hall in Moscow,…

1 year ago

Locals demand tourist tax for Tenerife: “Like a cancer consuming the island”

class="sc-cffd1e67-0 iQNQmc">1/4Residents of Tenerife have had enough of noisy and dirty tourists.It's too loud, the…

1 year ago

Agreement reached: this is how much Tuchel will receive for his departure from Bayern

class="sc-cffd1e67-0 iQNQmc">1/7Packing his things in Munich in the summer: Thomas Tuchel.After just over a year,…

1 year ago

Worst earthquake in 25 years in Taiwan +++ Number of deaths increased Is Russia running out of tanks? Now ‘Chinese coffins’ are used

At least seven people have been killed and 57 injured in severe earthquakes in the…

1 year ago

Now the moon should also have its own time (and its own clocks). These 11 photos and videos show just how intense the Taiwan earthquake was

The American space agency NASA would establish a uniform lunar time on behalf of the…

1 year ago

This is how the Swiss experienced the earthquake in Taiwan: “I saw a crack in the wall”

class="sc-cffd1e67-0 iQNQmc">1/8Bode Obwegeser was surprised by the earthquake while he was sleeping. “It was a…

1 year ago