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Wealth & Economics > Poor oligarchs suffer from political tensions

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message 1: by Nik (new)

Nik Krasno | 16030 comments Russia - UK tensions spill over onto poor businessmen, trying to invest billions into ailing UK economy. With his visa's prolongation troubles, the proud owner of Chelsea needed to look for alternative solutions:
https://www.bbc.com/news/uk-44332603
I guess everything's 'political', incl. law and biz.
What do u think?


message 2: by Philip (new)

Philip (phenweb) | 3078 comments As part of crack down on Russia's activities in UK the actions of multiple billionaires are being reviewed as part of visa renewals,
Long overdue in my view. For 20 plus years UK has accepted the money or residency without too much checking. This has led to the threat of, or actual violence between Russian factions as well as the recent issues. It also soured relations with the Kremlin long before the recent troubles.


message 3: by Michel (new)

Michel Poulin Well, it is pretty hard for us lowly common people to feel bad about the 'hard times' Russian oligarchs are now going through because of political turbulence between Russia and Western countries. They nearly all became obscenely rich not through super business savvy or hard work but by litterally looting the economy of the defunct USSR with the benediction of Boris Yeltsin and of his successors, who they supported politically. Basically, they bought out at much deflated prices various parts of the Soviet economy that had been previously state-owned. So, excuse me if I won't cry for any of those oligarchs, although Roman Abramovich at least doesn't seem to have been involved in some of the very unsavory criminal activities which other oligarchs are implicated into (arms dealing, drugs, sexual slavery traffic, etc.).


message 4: by Nik (new)

Nik Krasno | 16030 comments I was a little ironic, setting up this thread. They always say that to feel good and safe in Russia, businessmen need high profile political connections/protection, but it seems sometimes - political climate is important not only in Russia.
There is a whole bunch of countries practically 'selling' their citizenship or residency in consideration for a sizable 'investment'. The countries may become a little more selective as during recent years - the 'source' of wealth becomes more important than wealth itself. But then again - it might be a subtle ploy of established 'rich' vs parvenus -:)


message 5: by Nik (last edited Nov 04, 2021 01:16AM) (new)

Nik Krasno | 16030 comments We live in a theater (re). That's brilliant, too bad it's in Ukrainian, but if you wanna have a glimpse at oligarch's lifestyle, it's kinda telling:
https://youtu.be/Al4ILLRNQSs
The guy is under a full package of financial sanctions by the Security Council (meaning all his assets, bank accounts, credits cards, everything should be frozen), celebrates his 50-th birthday. The chosen theme is Venetian Mask Carnival. Especially for this they built near Kyiv a replica of San Marco Square from Venice, flown celebrity singers from Moscow by charter jets, and among the guests - the mayor of Kyiv, ex-chief of national police, ex-chief of immigration authority and more.
When asked, the guy says - his friends paid for this and he himself is too dejected from the sanctions to throw parties :) Yeah, right


message 6: by Philip (new)

Philip (phenweb) | 3078 comments Nik wrote: "We live in a theater (re). That's brilliant, too bad it's in Ukrainian, but if you wanna have a glimpse at oligarch's lifestyle, it's kinda telling:
https://youtu.be/Al4ILLRNQSs
The guy is under a..."


Good to see sanctions working :-/


message 7: by Ian (new)

Ian Miller | 11762 comments The sanctions may be hurting the ordinary person who is irrelevant to the decision making though. :-(


message 8: by Philip (new)

Philip (phenweb) | 3078 comments Ian wrote: "The sanctions may be hurting the ordinary person who is irrelevant to the decision making though. :-("

I meant the personal named sanctions rather than general ones - yets to see any of the personal named sanction lists actual suffer


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