Several of Russia’s oligarchs have begun carefully pushing back on Russian President Vladimir Putin’s invasion of Ukraine as the cost of the conflict lands at their doorstep.
“Innocent people are dying in Ukraine now, every day, this is unthinkable and unacceptable,” Russian banker Oleg Tinkov said in an Instagram post on Monday. “States should spend money on treating people, on research to defeat cancer, and not on war.
Russian metal magnate and Putin ally Oleg Deripaska echoed the remarks, arguing that “peace is very important” in a Telegram post and pressed for negotiations to begin “as soon as possible.”
Evgeny Lebedev, a London-based Russian tycoon and the owner of British newspaper the Evening Standard, published a front-page editorial Monday asking Putin directly that he “please stop this war.”
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“As a Russian citizen, I plead with you to stop Russians killing their Ukrainian brothers and sisters,” Lebedev wrote. “As a British citizen, I ask you to save Europe from war.”
Russian bank co-founder Mikhail Fridman was more direct, telling the staff at the British equity firm LetterOne that he hoped to see this war end soon.
“I do not make political statements; I am a businessman with responsibilities to my many thousands of employees in Russia and Ukraine,” Fridman wrote in a weekend email. “I am convinced, however, that war can never be the answer. This crisis will cost lives and damage two nations that have been brothers for hundreds of years. … While a solution seems frighteningly far off, I can only join those whose fervent desire is for the bloodshed to end.”
Chelsea soccer team owner Roman Abramovich has also offered to help Ukraine and Russia with peace talks. A spokesperson for the Russian billionaire told Reuters that “Abramovich was contacted by the Ukrainian side for support in achieving a peaceful resolution and that he has been trying to help ever since.” Abramovich announced on Wednesday that Chelsea has been put up for sale as pressure from the British government has grown regarding the country’s sanctions against Abramovich. The billionaire has already moved to pass “stewardship” of the club, which has become one of the most successful in Europe since he bought it in 2003, to its trustees.
The Russian billionaires have had staggering losses to date, with Forbes estimating that Russia’s billionaires have lost $126 billion in wealth as of Wednesday based on sanctions of Russian banks, people, and entities alongside the deflation of the ruble.
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The oligarchs are also facing additional pressure from other nations. The Justice Department launched its “KleptoCapture” task force Wednesday in an attempt to target Russian oligarchs for the crimes they’ve committed. Other entities, including Monaco, are looking to seize the oligarchs’ assets, such as their overseas yachts.
