The sovereign funds have been seized by the West as part of Ukraine-related sanctions Nearly $300 billion worth of Russian forex reserves have been frozen by Western countries since March 2022. The EU has been seeking ways to tap the profits from those funds, but Moscow warned that any such move would constitute theft.

The fortunes of those who remain on list of the country’s richest people have shrunk due to sanctions The unprecedented sanctions introduced against Russian individuals since the beginning of Moscow’s military operation in Ukraine have drastically reduced the list of Russia’s wealthiest people, according to the latest estimates by Forbes.

The prime minister of the EU state has snubbed Western attempts to isolate Russia diplomatically China has hosted a meeting between Russian President Vladimir Putin and Hungarian Prime Minister Viktor Orban during which the Brussels-defying leader said he has sought to keep relations with Moscow afloat even as the West tries to isolate Moscow diplomatically.