Skip to content

News Feed

6:28 PM
Although a stopgap funding bill to prevent a U.S. government shutdown was passed on Sept. 30 without any provisions for aid for Ukraine, President's Office Head Andriy Yermak said on Oct 1 that it should not be construed as a change in U.S. support for Ukraine.
4:12 PM
Ukrainian drones successfully struck a helicopter base in Sochi and an aircraft factory in Smolensk on Oct. 1, according to reports by Russian Telegram channels and Ukrainska Pravda.
Ukraine Daily
News from
Ukraine in your
7:27 AM
Russian forces launched another drone attack targeting Ukraine's southern oblasts overnight on Oct. 1. Ukraine's air defense downed at least 15 drones over Odesa and Mykolaiv regions, Natalia Humeniuk, spokesperson of Ukraine's Southern Operational Command, said on air.
6:50 AM
U.S. President Joe Biden signed a law averting a government shutdown that was set for midnight, according to the White House. Biden said that although the bill does not include financial assistance for Ukraine, he expects Speaker Kevin McCarthy "will keep his commitment to the people of Ukraine and secure passage of the support needed to help Ukraine at this critical moment."
5:49 AM
Following a passage of a bill to avoid a government shutdown, top U.S. Senate leaders issued a rare bipartisan statement affirming their commitment to Ukraine. They expect the Senate will work "to ensure the U.S. government continues to provide critical and sustained security and economic support for Ukraine."
4:36 AM
At least four explosions were heard in Kharkiv, city Mayor Ihor Terekhov said via his official Telegram channel in the early hours of Oct. 1. Two explosions were also reported in the city of Snihurivka in Mykolaiv Oblast, according to regional authorities.
5:50 PM
"Odesa is a beautiful historic city. It should be in the headlines for its vibrant culture (and) spirit," Borrell wrote on Twitter. "Instead, it marks the news as a frequent target of Putin's war."
5:15 PM
According to President Volodymyr Zelensky, he and Slovak Defense Minister Martin Sklenar discussed cooperation with Slovakia regarding the Ukrainian military's needs, the situation at the front line, and de-mining.

watch us on facebook

Edit post

Bloomberg: Russian elite pull $50 billion from 'unfriendly' European countries

by Martin Fornusek September 14, 2023 10:46 AM 2 min read
Dmitry Pumpyansky, billionaire and owner of TMK PAO, left, and Victor Rashnikov, owner of Magnitgorsk Iron & Steel Works PJSC, look on from the audience at a Russian Union of Industrialists and Entrepreneurs (RSPP) event in Moscow, Russia, on Thursday, March 14, 2019. (Photo credit: Andrey Rudakov/Bloomberg via Getty Images)
This audio is created with AI assistance

Russian billionaires have pulled assets worth $50 billion from so-called "unfriendly" European countries since the start of the full-scale war due to mounting sanctions and pressure from the Kremlin, Bloomberg reported on Sept. 14.

The outlet said that Russia's wealthy are transferring their funds from locations like Cyprus, Switzerland, or the U.K. island of Jersey back to Russia or to places that Moscow considers friendly, such as Kazakhstan or the United Arab Emirates.

As Bloomberg pointed out, the first to undertake this step were fertilizer billionaire Andrey Guryev and steel tycoon Victor Rashnikov, followed by Igor Altushkin, Igor Shilov, Mark Kurtser, and others.

While the Russian elite have traditionally preferred to store assets in Europe, their options are growing thin as many of them find themselves on Western sanctions lists.

Join our community
Support independent journalism in Ukraine. Join us in this fight.
Support us

The Kremlin itself seeks to repatriate the wealth of Russian billionaires, using both a stick – such as suspending dual tax treaties – and a carrot – local low-tax domestic "offshore" zones.

Russian companies are also transferring their assets, with 115 business entities moving to domestic "offshore" zones this year, amounting to a total of 254, Bloomberg said, citing Russian First Deputy Economy Minister Ilya Torosov.

The U.S., the U.K., the EU, and other Western governments have imposed a number of sanctions against Russian high-profile figures linked to the Kremlin or involved in the Russian aggression against Ukraine.

Members of the Russian elite have had their offshore assets frozen or were barred entry to Western countries. Kyiv said it wants to create mechanisms to have the frozen assets used to pay for Ukraine's reconstruction and recovery.

On Sept. 6, U.S. State Secretary Antony Blinken said that for the first time, Washington will fund support for Ukrainian military veterans using "assets seized from sanctioned Russian oligarchs."

Investigative Stories from Ukraine: Massive leak reveals how Putin’s oligarchs evaded Western sanctions imposed due to Ukraine invasion
Welcome to Investigative Stories from Ukraine, the Kyiv Independent’s newsletter that walks you through the most prominent investigations of the past week. If you are fond of in-depth journalism that exposes war crimes, corruption and abuse of power across state organizations in Ukraine and beyond,…

Support independent journalism in Ukraine. Join us in this fight.
Freedom can be costly. Both Ukraine and its journalists are paying a high price for their independence. Support independent journalism in its darkest hour. Support us for as little as $1, and it only takes a minute.
visa masterCard americanExpress

Editors' Picks

Enter your email to subscribe

Please, enter correct email address


* indicates required
* indicates required


* indicates required
* indicates required


* indicates required


* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.