When the Russian Federation began a full-scale invasion of independent Ukraine on 24 February 2022, the majority of Ukrainians felt this war immediately. Many lost their homes and property, and some were killed by the occupant’s shells. The military activities affected the property of the country’s richest people, and most of them have suffered and continue to suffer huge losses. Decades ago, these billionaires monopolised various markets and gained incredible influence.
After the collapse of the Soviet Union, the country was in a deplorable situation, with banditry and unemployment flourishing. It happened because most businesses suspended operations or were shut down. All the factories, plants, agricultural and other businesses used to belong to the USSR and they fell in value, becoming very cheap, so most of them were acquired by a few individuals who developed them and made fortunes. New opportunities enabled them to establish own media, become politicians or push their trusted people forward to the government.
Many Ukrainians believe that their country has not been able to develop because the billionaires took the lion’s share of power. Ukraine does have a high level of corruption. The country is quite rich and has a lot of hard-working people and resources. In early 1990s, it had even more potential than the neighbouring Poland. It is very important that the money earned is reinvested back into the country for development rather than falling into someone’s pockets or being sent abroad.
Ukraine’s richest man, Rinat Akhmetov, has suffered huge losses as a result of the Russian aggression. Most of his businesses are based in the east and south of the country, where fierce fighting continues. The businessman’s team has estimated that the damage caused to his assets runs into billions of dollars and is currently suing Russia in the European Court. In early 2022, his fortune made US$11 billion, while today it is approximately US$5 billion. Although Rinat Akhmetov owns a luxury historical villa in France and an apartment in London, he chose to stay in Kyiv. In early spring of 2022, the situation was extremely dangerous as many cities, towns and villages near the capital were bombed and destroyed by Russian terrorists.
The businessman decided to support the Ukrainian people. To date, he has allocated more than US$100 million for humanitarian assistance. His plants keep on producing bulletproof vests, fortifications, pre-fabricated shelters, etc. to meet the needs of the military. The Rinat Akhmetov Foundation provides regular support to those affected by the war.
The influence of Ukrainian businessmen has indeed weakened, and this is not surprising under the circumstances. They have all suffered huge losses, and they all feel a constant pressure from the government. However, it is important that the Ukrainian people do not want to tolerate the power of the richest in their country.
Based on: https://www.washingtonpost.com/world/2022/12/08/ukraine-oligarchs-power-war/