Russian president Vladimir Putin, who has previously had a friendly relationship with the country’s oligarchs, has seemingly changed his mind about the country’s richest citizens.

He address to Russia’s parliament, Putin The elites were treated with hostility by the president, who said that the sanctions they had to face since the outbreak of the Ukraine war is the cost for their Western relations and called them traitors. Russian state.

“Instead of creating employment here, this capital was spent buying elite real-estate, yachts,” He stated, according to CNBC. “Some came to Russia, but the first wave was spent on consuming Western goods. … The latest events have demonstrated that the West was just a ghost in terms of being a safe haven. Those who saw Russia as just a source of income and were planning to live abroad, they saw that they just got robbed in the West.”

The U.S. and other nations imposed sanctions that led to $95 billion in losses for oligarchs Last year. PutinBut, they did not sympathize with the rich and said “none of the simple citizens of this country were sorry about those who lost massive bank accounts in the West”.

Sanctions against Russian oligarchs They have had the following: in several high-profile seizures in The past year saw megayachts valued at $300 million and $325 millions, respectively, while a boat worth $500 million was able to escape seizing.

Some oligarchs The Ukraine war has been a source of tension for many, and they have been vocalizing their disapproval. Putin. Many oligarchs Since that criticism began, have been discovered dead including two deaths within 48 hours of one another. Their family members were also found dead in both cases.

Find out how to strengthen trust by learning how to navigate in The Trust Factor will help you grow your business. This weekly newsletter examines the needs of leaders and provides tips on how to make them successful. Click here to sign up.