Most Russians are unlikely to lose much sleep if the super-rich lose out. But they will be hurt in a wider economic war with the west
On Thursday evening, Boris Johnson tweeted new sanctions on “Kremlin associates … to inflict maximum economic pain on Putin and his war machine”. The prime minister claimed to MPs he is leading the west in punishing the Russian president for his invasion of Ukraine. But Mr Johnson’s actions show he is lagging some way behind.
The European Union and the United States have targeted many more of Vladimir Putin’s cronies – and are moving swiftly to take control of their assets. Earlier this week, France seized a superyacht linked to Igor Sechin, the boss of Russia’s largest oil company and an oligarch who Britain has yet to sanction. Left untouched in Britain are the mansions and art collections amassed by wealthy Russians. No wonder many think these assets risk being spirited away.
