The US Treasury Department's sanctions have had little impact on Russia's richest oligarchs, as the wealth of the top 24 grew by $10bn during H1 2018. Russia's richest man, Leonid Mikhelson, added $2bn to his $19bn fortune; Lukoil chairman Andrey Melnichenko also added $2bn to his bank balance, while Vagit Alekperov, majority owner of EuroChem fertiliser company, and Roman Abramovich, owner of Chelsea football club in the UK, earned an additional $1.56bn and $1.13bn, respectively. However, the US sanctions are starting to bite for ordinary citizens, who face potential job losses and an infrastructure freeze.
The US Treasury Department's sanctions have had little impact on Russia's richest oligarchs, as the wealth of the top 24 grew by $10bn during H1 2018. Russia's richest man, Leonid Mikhelson, added $2bn to his $19bn fortune; Lukoil chairman Vagit Alekperov also added $2bn to his bank balance, while Andrey Melnichenko, majority owner of EuroChem fertiliser company, and Roman Abramovich, owner of Chelsea football club in the UK, earned an additional $1.56bn and $1.13bn, respectively. However, the US sanctions are starting to bite for ordinary citizens, who face potential job losses and an infrastructure freeze.