Mikhail Fridman Bemoans His Current Living Situation Due To Sanctions
NaijaNews reports that after being stung by sanctions related to the Russia-Ukraine conflict, a Russian oligarch claimed he doesn’t know how to live on £2,500 per month.
Mikhail Fridman, who had a net worth of £7.5 billion, was sanctioned on February 28 by the European Union and on March 15 by the United Kingdom.
The billionaire’s fortune was reduced by £3 billion, and he was forced to live on £30,000 per year, which may appear to be a decent living for the normal person – but he claims it was hard to survive on.
Bloomberg quoted him as saying: “I have no idea how to survive. I’m not sure. I honestly don’t know.”
The billionaire also branded the sanctions “groundless and unfair” and declared that he would contest them, Reuters reported.
Fridman, a cofounder of the London investment firm LetterOne and former board member of the Russian banking company Alfa-Bank, claims that his UK bank card was frozen because of the sanctions.
He has to apply for a licence to spend money before the British government decides how reasonable the request is.
As a result of the sanctions, he resigned from the board of Alfa-Bank one day after the EU sanctioned him.
But, while he doesn’t agree with the sanctions being placed on him, he acknowledges that his problems are nothing compared to those at war in Ukraine.
He said: “My problems are really nothing compared with their problems.”
The news comes after Fridman warned that sanctions would do nothing to stop the war in Ukraine.
Speaking to Bloomberg, Fridman said: “If the people who are in charge in the EU believe that because of sanctions, I could approach Mr Putin and tell him to stop the war, and it will work, then I’m afraid we’re all in big trouble.
“That means those who are making this decision understand nothing about how Russia works. And that’s dangerous for the future.”
Fridman has also said that western powers do not understand that influencing the powerful figures around Putin will not work.