by Eric Yue
In hopes of deterring Putin and supporting Ukraine, the US and NATO allies imposed heavy sanctions on many Russian oligarchs, the richest of the rich in Russia, who are closest with President Putin.
The news came just a few days into the initial “Special Military Operation” ordered by Putin. The United States and NATO allies have imposed full sanctions on many oligarchs and high ranking officials. "We want [Putin] to feel the squeeze, we want the people around him to feel the squeeze," White House Press Secretary Jen Psaki told reporters on Thursday, March 3rd. The sanctions stop accessibility of banks for oligarchs, freeze international assets, and even sanctions personal property and items.
All of these new regulations have a huge impact on oligarchs’ opinions about the war. Even before the invasion, many oligarchs supported Putin and the mobilization of troops on the Russia-Ukraine border, but as the sanctions hit the oligarchs, some have changed their opinions.
Mikhail Fridman, the chairman and founder of Russia’s largest private bank, Alfa Bank, became the first Russian oligarch to publicly speak out against the invasion on Friday, February 25th, calling the conflict a “tragedy” and calling for an end to the “bloodshed.” This comes just one day after the initial invasion from the Russian military.
The list of oligarchs calling for peace and urging Putin to stop the conflict is growing by the day. Vagit Alekperov, the head of the Russian oil giant Lukoil, Oleg Deripaska, a business mongal and founder of one of Russia’s largest industrial organizations, and Pyotr Aven, the head of Alfa-Bank, are just a few out of the dozens who have publicly opposed Putin’s decision to invade Ukraine.
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