War continues

European Union nation members are considering a new sanction (definition #5) to punish Russia for its war on Ukraine.

Twenty-two European nations have abolished controls (like passports) over their mutual borders, so citizens move freely across those borders. It's called the Schengen Area. These partner countries and the European Union are considering a ban on Russian tourists.

It's not a clearcut issue. The German chancellor wants to keep escape routes open across borders for Russian citizens who want to flee Putin's rule.  Other leaders want the ban to go into effect.

The Finnish prime minister speaks for Europeans who can't close their eyes to the crisis. She says, “I think it’s not right that Russian citizens can travel, enter Europe, enter the Schengen area, be tourists, see the sights while Russia is killing people in Ukraine. It’s wrong."

Meanwhile, eastern Ukraine endures more Russian shelling. Even so, many hesitate to escape by way of a free train ride. It's hard to leave the homeland.

from CNN

Losses

Here's a different take on Putin's despicable war against Ukraine: Russia's losses go beyond those caused by global sanctions (both financial loss and public revulsion). The loss of young lives will be felt.

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According to President Zelensky, 31,000 Russian soldiers have been killed in Ukraine. Even before the war, their population was declining by 100,000/year. They've been in that "demographic winter" for years. 

Twenty-thousand Russian villages have been abandoned Another 36,000 have fewer than ten  inhabitants. They will be next. 

"If the Russians turn out to have no stomach for this fight, it will probably be for the simple fact that the country does not have enough men to spare. The majority of those poor young men killed for Russia’s honour will be their mother’s only son, in many cases their only child . . ."

from Breakpoint

(cont'd tomorrow)

Oligarchs 3

(cont'd from yesterday's post)

A whopping 90% of Russians are against the war on Ukraine. This is the estimate of Oleg Tinkov. In 2014 his net worth was reportedly $8.2 billion, but now it's shrunk down below $1 billion, due at least somewhat to sanctions laid on him and his holdings by the U.K.

He takes a strong stand against Putin's war in a post on Instagram: "I don't see a single beneficiary of this crazy war! Innocent people and soldiers are dying." Since he probably knows Putin, he offers some advice to western countries: "find a way to end the conflict that does not embarrass Putin."

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He's not protecting Putin's tender feelings, but rather he's being practical. We all want Putin to pull out of Ukraine, but he may never do that if it makes him look weak or foolish. An end to the war is the goal.

If this man is a member of the oligarchy, as the article below claims, what is he risking with his public opposition to the immensely powerful and rich people he knows, the oligarchs who control Russia?

from "Oligarch Rants Against 'Morons' Amidst Putin's 'Crazy War'", The Street

Oligarchs 2

(cont'd from yesterday's post)

So several countries want to inflict economic pain on Russia as a penalty for attacking  Ukraine. Financial sanctions are forcing Putin and his co-thugs to pay a price for their brutality.

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Forbes estimates that elite Russian billionaires have lost about $290 billion in net worth since before the invasion. They name names and here are a few:

Roman Abramovich, net worth $6.9 billion -- assets frozen so far are a premier soccer team, a Gulfstream jet, and a 15-bedroom mansion in London

Mikhail Fridman, net worth $11.8 billion -- London properties including a $100 million estate have been frozen by the U.K.

German Khan, net worth $7.8 billion -- London properties have been frozen

Alexei Kuzmichev, net worth $6 billion -- his two yachts were frozen by France

Alexey Mordashov, net worth $13.2 billion -- his yacht and $115 million villa were frozen by the Italian police

from "The Ultimate Insider's Guide to Russian Oligarchs," Forbes, April/May 2022, pp.104-112

(cont'd tomorrow)

Oligarchs 1

Oligarchy is defined by Merriam-Webster this way: "a government in which a small group exercises control especially for corrupt and selfish purposes." Members of the small group are oligarchs.

Sure, Vladimir Putin is the president of Russia, the leader out in front, the point man. But he's not alone. Unofficial, unelected partners cooperate with him and with each other. Favors and deal-making keep fellow members of the group enormously rich and powerful.

An ice arena was built ($100 million) by Iskander Makhmudov to be used at the 2014 Sochi Olympics. Afterwards, he gave it to the Russian government. Nothing in the article tells us what favor this generous gift repaid.

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An effort is being made to punish the Russian oligarchy for the war on Ukraine. 

from "The Ultimate Insider's Guide to Russian Oligarchs," Forbes, April/May 2022, pp.104-112

(cont'd tomorrow)

Russia pays

Note: the SpaceX update will continue after a post or two regarding Ukraine's crisis

Pres. Putin of Russia sent troops to invade and attack the nation of Ukraine to steal it from its people on February 24. The Ukrainians are bravely fighting back.

There's a price to pay for this brutality, maybe a higher price than Putin expected. 

Sanctions were placed on 26 Russian billionaire individuals by the European Union this week, in addition to sanctions on hundreds last week. New this week is a $29 billion man who owns a majority stake in a Russian steel company. The sanctions include an asset freeze and a travel ban. The EU is going after heavy-weight influencers.

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Shell Oil company, based in the United Kingdom, earned about $700 million in its investments in Russian energy projects last year, but they're going to leave the country. UK oil company BP is also pulling out, a decision which will cost the company billions.

Shell's CEO says, "We are shocked by the loss of life in Ukraine, which we deplore, resulting from a senseless act of military aggression which threatens European security . . . We cannot - and we will not - stand by."

from Forbes and CNN