House of Russian oligarch arrested in Portugal’s Algarve Roman Abramovich worth 10 million euros newspaper Publico on Saturday, May 14th. According to the publication, 15 days before Russian invasion of Ukraine Millhouse Views LLC, owned by Abramovich’s investment holding, tried to sell the property, but the Portuguese state banking corporation Caixa Geral de Depósitos reported it to the police. At the request of the Ministry of Foreign Affairs Portugal property registration has been frozen since 25 March.
After the start of the war in Ukraine, Roman Abramovich fell under tough sanctions European Union and UK. His assets, including the London football club Chelsea, were frozen. Then Abramovich signed an agreement to sell the club to a consortium that includes American businessmen Todd Boeli and Mark Walter, Swiss billionaire Hansjörg Wyss and investment company Clearlake Capital.
Freeze of Abramovich’s assets
In mid-April, the court of the British island of Jersey froze assets totaling $7.3 billion related to Roman Abramovich. This is more than half of the oligarch’s fortune, which is estimated at $13.9 billion. In addition, the French authorities confiscated Abramovich’s $120 million mansion on the Riviera. According to the Daily Mail, this is one of 12 French residences confiscated from Abramovich.
At the same time, the Russian billionaire managed to withdraw two luxury properties outside the EU. yachtswho were under threat of arrest.
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Putin’s war in Ukraine and its consequences around the world
Going to the store has become more expensive
In Germany, consumers are outraged by the rising cost of living. The Russian invasion of Ukraine and the resulting Western sanctions against the Russian Federation played a decisive role in this. The last time the inflation rate in the country, comparable to March 2022, was observed in Germany in 1981. The federal government wants to impose an embargo on coal supplies from the Russian Federation within months, but is slow to ban gas and oil imports.
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Putin’s war in Ukraine and its consequences around the world
Lines at gas stations in Kenya
The effects of the war in Ukraine are also being felt in Nairobi, where long lines form at gas stations. Fuel is becoming scarce and expensive. The food crisis is exacerbating the situation.
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Putin’s war in Ukraine and its consequences around the world
Rising Bread Prices in Turkey
Russia is one of the world’s largest wheat producers. One of the consequences of the ban on grain exports imposed by the Russian Federation was the rise in bread prices in Turkey. This is a clear example of how international sanctions are disrupting supply chains. Ukraine is one of the largest exporters of wheat. However, in the conditions of war, ships with grain from this country cannot leave the Black Sea ports.
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Putin’s war in Ukraine and its consequences around the world
Rise in wheat prices in Iraq
This worker stacks sacks of flour at Jamila, a popular wholesale market in Baghdad. In Iraq, too, wheat prices skyrocketed after Russia’s invasion of Ukraine, with both warring countries accounting for at least 30 percent of the world’s wheat trade. Iraq has remained neutral so far, but posters expressing support for Putin are now banned in the country.
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Putin’s war in Ukraine and its consequences around the world
Protests in Peru
The photo shows the unrest in the capital of Peru, Lima. The protests there since the beginning of April are aimed, in particular, against the rise in prices for food, fuel and fertilizer, which has been exacerbated by the war in Ukraine. On April 5, President Pedro Castillo was forced to impose a curfew, but canceled it a day later, after which the protests continued.
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Putin’s war in Ukraine and its consequences around the world
Crisis in Sri Lanka
In Sri Lanka, too, there are demonstrations, with people expressing their dissatisfaction with the rising cost of living, fuel shortages and power outages. In early April, protesters even attempted to storm the residence of President Gotabai Rajapaksa. The latter declared a state of emergency and turned to India and China for help in supplying the necessary resources.
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Putin’s war in Ukraine and its consequences around the world
Scots outraged by rising food and heating prices
There are also demonstrations in Scotland against rising food and energy prices. Trade unions staged protests across the UK to protest the rising cost of living. Brexit has caused prices to rise in many areas of life. The war in Ukraine is expected to exacerbate this effect.
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Putin’s war in Ukraine and its consequences around the world
How much is this fish now?
The British fear for their favorite national dish. About 380 million servings of fish and chips (Fish & Chips) are eaten annually in the kingdom. However, due to tough sanctions, prices for white fish, vegetable oil and energy are now rising. In February 2022, inflation in the UK compared to the same month last year was 6.2%.
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Putin’s war in Ukraine and its consequences around the world
War as a chance for the economy?
A trader in Ibafo, Nigeria packages flour for resale. Nigeria has long wanted to reduce its need for food imports and make its economy more resilient in other areas as well. Can the war be regarded as a chance for the economy? Aliko Dangote, Nigeria’s richest man, recently opened the country’s largest fertilizer plant and is now hoping for demand.
Author: Claudia Den
