Against all odds and despite sanctions, Russian tycoons are recovering some of their wealth. After almost a month of suspension, some trades on the Moscow Stock Exchange started selectively today, Thursday, with the MOEX benchmark index rising by up to 12%.
While only 33 shares resumed trading, Russians with related assets added a total of $ 8.3 billion, according to the Bloomberg Billionaires Index, which tracks the world's 500 richest people.
Dozens of Russian billionaires have been the target of sanctions by the European Union and the United Kingdom since the start of the Kremlin's war against Ukraine.
as much as they could.
According to a Blomberg article, Vladimir Potanin, Leonid Mickelson and Gennady Timchenko increased their fortunes by more than $ 1 billion on Thursday. on February 24, the day Russia invaded Ukraine. Prior to the shutdown, the 23 tycoons of the world's 500 richest people had more than $ 316 billion in combined wealth, down $ 58 billion a year.
The 33 shares that resumed trading on the Moscow Stock Exchange had some restrictions that helped strengthen the market: foreigners were not able to liquidate their shares and open sales were banned.
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