Ukraine crisis: Russia's ultra-rich count cost of $83 bn wealth wipeout

Russia's $1.5 trillion economy is already reeling from sanctions that targeted key banks and may prevent Putin from accessing the bulk of more than $640 billion in central bank reserves.

Russia’s billionaires are starting to feel the heat.
 

The broadside to their fortunes has been swift since President Vladimir Putin’s decision to invade Ukraine. Russia’s ultra-rich who rank among the world’s 500 wealthiest people have now lost a combined $83 billion this year, according to the Bloomberg Billionaires Index. 

Market declines have been so extreme that Russia’s central bank halted local trading on Monday, meaning some of the losses are understated. Shares of London-listed Russian companies, from gas producer Novatek to steelmaker Severstal, tumbled by more than 50% on Monday after the U.S., U.K., European Union and other countries ratcheted up