Record asset seizure: Authorities confiscated $7.6 billion in holdings tied to Vadim Moshkovich, the largest nationalization in recent years.
Part of wider campaign: The Kremlin has transferred an estimated $89.7 billion in private assets to state control since the Ukraine war began.
Elite on alert: Billionaires are showing loyalty to avoid similar fates, with some making large voluntary contributions to the state budget.
A lot of the oligarchs’ assets are held in other countries, this story is a prime reason why. But other countries are cowardly and only freeze the funds, not appropriate them.
Idea is that if you steal people’s money, other people won’t trust you with more money. Fair enough, but I don’t think this should apply anymore when your country starts an unprovoked war of aggression.