Superior Muscle Growth Plan B Workouts Your Favorite Workout Splits

Do you want to build lean muscle and get your “goal body” as quickly as possible? Do you want to do this WITHOUT gaining excess body fat, spending all of your time in the gym, using a diet or workout that isn’t customized to you, or doing myth-based nonsense that only works for people with amazing genetics?

Superior Muscle Growth is the ultimate science-based program for building your ideal body, regardless of your age, genetics, gender, body type, available schedule, or specific goals. This step-by-step plan has been tested, adjusted, and improved over a span of 15 years by myself, my hundreds of clients, and the thousands of men and women who have come to me for help and advice.

Do you work out at home with nothing but some resistance bands, or a few dumbbells, or just your own body weight? If so, I’ve written the ultimate guide to getting the results you want without a gym. I call it: The Home Workout Guide

It contains beginner, intermediate, and advanced home workouts. 2-day, 3-day, 4-day, and 5-day home workouts. Body weight options, dumbbell options, and resistance band options. 170+ home exercises to choose from, with video examples for each. And so… much… more.

Do you want to lose body fat and get leaner in the easiest and most effective way possible? Do you want to do it WITHOUT losing muscle, feeling hungry all the time, giving up your favorite foods, doing 100 hours of cardio, or struggling with plateaus, motivation, metabolic slowdown, and everything else that sucks about losing fat?

Superior Fat Loss is the most effective approach to losing fat quickly, safely, and easily, while eliminating every single problem that prevents most people from reaching their goal or maintaining it afterwards.

My work involving fast food nutrition was used in a study called The Effect Of Fast Food Restaurants On Obesity And Weight Gain, which was published in the American Economic Journal in 2009/2010. My work has appeared in textbooks published by Pearson Education (Teaching Today’s Health, 10th Edition), among others.

In several years since, this “Plan B Workouts” website has become the place where I’ve done all of my writing, and it’s grown into significantly more than just a guide to creating “plan b workouts.” (So yeah, the name is semi-weird, but at least the story behind it makes sense.)

Throughout this period, my workout and diet guidelines have been recommended by doctors to their patients, used by teachers in schools and universities, and utilized by members of local law enforcement and military.

My diet/training programs have been adapted by coaches, trainers and diet professionals at every level, and used by natural bodybuilders, figure competitors, models, and athletes. I’ve written a few books – Superior Muscle GrowthSuperior Fat Loss, and The Home Workout Guide – each of which has been read by tens of thousands of men and women, with overwhelmingly positive feedback.

Over 215,000 people are actively subscribed to receive email updates from me to ensure they never miss a thing that I put out. My work has been seen by millions of people from all over the world, in every country imaginable, and translated into a variety of different languages.

Back in 2001, when I was just 18, I wrote about this experiment I did with ab exercises to prove that spot reduction was a myth and no amount of ab workouts or As-Seen-On-TV ab gadgets (which were at the height of their popularity at the time) would actually burn belly fat. It became so popular that I was contacted by a Fox TV station and scheduled to appear live on air for a segment they were doing on infomercial ab machines. (9/11 happened soon after, so I never got to make my TV debut.)

But hey, I have good news! I’m here to help prevent your head from exploding. To do this, I’m going to help you find exactly what you need and clearly lay it all out for you. Kinda like a little website tour, so to speak.Ready? Let’s begin…

  • The Weight Training Guide
  • The Diet Guide
  • The Beginner Workout Routine
  • The Muscle Building Workout Routine
  • The 5-Day Workout Routine
  • My 4 Favorite Workout Splits
  • Losing Fat
  • Building Muscle
  • Diet & Nutrition
  • Common Myths

If you like what you’ve seen here, chances are you’re going to like the new (free) content I put out on a regular basis. To ensure you never miss a new article, program or guide of some sort, I’d highly recommend subscribing. This way, whenever I put out something new, you’ll get a quick email letting you know. As a bonus, I’ll also send you a copy of The 9-Step Diet Checklist for free as a thank you for subscribing.

Source: Superior Muscle Growth – Plan B Workouts

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Ukraine And The Financial Markets: The Winners And Losers So Far

It’s two weeks since the world woke up to the dreadful news of a Russian attack to Ukraine. Notwithstanding the incalculable costs in terms of human lives, as well as human capital and physical infrastructure, we’ve seen much turbulence in the financial markets. So what has happened so far?

Since markets tend to react to geopolitical risks, US Federal Reserve economists Dario Caldara and Matteo Iacoviello recently built a geopolitical risk index (GPR) to be able to compare events at different points in time. It is based on real-time reports in the news of war threats, terror threats, military build-ups, nuclear threats, acts of terror, beginnings of war and escalations.You can see below their plot of the daily data, which dates back nearly 40 years. The most remarkable spikes capture the 1991 Gulf war, 9/11, the beginning of the Iraq war in March 2003, the London bombings of July 2005, and now the Ukraine invasion. For those looking for some kind of consolation right now, the index reckons that we are still not close to the level of geopolitical risk that we saw in the aftermath of 9/11.

The geopolitical risk index

High geopolitical risk has been shown to increase investors’ uncertainty, prompting declines in stock prices and other financial assets. The link with stock market uncertainty is particularly clear in the graph below, which compares the GPR to the VIX indicator of stock market volatility, which is sometimes referred to as the “investors’ fear gauge”.

The GPR daily is in orange, while there are two other versions that track risk of threat (red) and geopolitical acts (green). Essentially they have all been moving in the same direction, with the red risk line leading the way.

As you can see, both these lines and the VIX rose in November after satellite imagery first showed build-ups of Russian troops on the border with Ukraine. Other peaks correspond to January 26, which was the date of Nato’s written response to the Russians, and the start of the invasion on February 24.

Geopolitical risk vs stock market volatility

Energy markets, and oil in particular, react to geopolitical risk at the best of times. And given Russia’s huge importance as an oil exporter, energy prices have been particularly affected by this war. Brent crude is currently trading at around US$116 (£88) per barrel, having risen over US$130 a couple of days ago. This will impact everything from firms’ cash flows to consumer petrol prices, creating inflationary pressure that helps to bring about recessions.

Because Russia and Ukraine are also major exporters of many other important commodities such as wheat, neon gas, palladium and sunflower oil, their prices have been soaring too – and they’re destined to keep increasing due to western sanctions.

Commodity and asset prices compared since invasion

On the other hand, safe havens in times of volatility have been doing well. The price of gold is up again after its remarkable uptick in the early months of the pandemic. Bitcoin and other cryptocurrencies have the potential to benefit since they are a possible vehicle for Russians to circumvent sanctions, but they have been more subdued lately.

Stock Market

The response of stock markets to the war is more complex, given that different markets have more or less exposure to different commodities than others. They also have different levels of exposure to the Russian stock market (which remains closed after plunging together with the rouble following the invasion).According to our calculations from data that dates back to 1985, European countries are more correlated to the Russian market and therefore more vulnerable.

For example, France, Germany and the UK have a 0.45, 0.42 and 0.47 correlation with Russia, where 1 would mean they moved in lockstep and 0 that they did not influence each other at all.The US, on the other hand, has an 0.26 correlation, while China’s, interestingly, is just 0.1. This all broadly corresponds to how different stork markets have performed since the invasion, as you can see below.

Stock markets compared

Finally, what about different types of companies? As you can see below in this breakdown of US players, different sectors have performed quite differently in the early stages of this crisis. The black line is the S&P 500, so those below have underperformed and those above have done better.Energy companies have been doing very well, for example (as have weapons makers).

Companies that either sell consumer staples or consumer products that are more discretionary, ranging from hifi equipment to cinema tickets, have been losing out amid fears that they will have less to spend because of commodity inflation.

We shouldn’t be fooled into thinking that some sectors are simply going to benefit from the war, however. There can be short-run winners, but the interconnectedness of economies, the burden of sanctions and the costs of increased uncertainty will eventually bite all markets. It’s going to affect household budgets, wages and also pensions – regardless of the final outcome, which remains largely unpredictable.

By: Senior Lecturer in Economics, Keele University Senior Lecturer in Economics, University of the West of England & Senior Lecturer in Macroeconomics, University of Portsmouth

Source: Ukraine and the financial markets: the winners and losers so far

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How Social Platforms Are Responding To The Crisis In Ukraine

Russia’s invasion into Ukraine has caused global angst, putting the military super powers of the world at odds once again, and potentially forcing an intervention that could lead to one of the biggest conflicts in decades.

And unlike similar incidents in times past, this battle is playing out in the age of social media, with memes, misinformation campaigns and scams all adding to the growing maelstrom of information, which can confuse, contort and cloud what’s actually happening in the eastern European region.

Given this, and the role that social media now plays in the dissemination of information, the platforms need to work fast to limit any misuse of their networks for questionable purpose, and many have already enacted plans to mitigate certain elements of misuse and misinformation.

Here’s a look at what’s been announced thus far from the major social apps.

Meta

Facebook is at the center of the social media information flow within the conflict zone, with around 70 million users in Russia, and 24 million in Ukraine, approximately half of the total population of each respective nation.

Late last week, the Russian Government announced that it would restrict access to Facebook due to Meta’s refusal to remove misinformation warning labels on posts from state-affiliated media. Now, Meta has taken that action a step further, by also prohibiting ads from Russian state media, and demonetizing these accounts, severely limiting the capacity for Russian authorities to use Facebook as an information vector.

Russia, of course, does have its own social media platforms and messaging tools, so there are other ways for the Kremlin to communicate their activities and motivations to Russian citizens. But Meta has taken a strong stance, while it’s also restricted access to many accounts within Ukraine, including those belonging to Russian state media organizations.

In addition to this, Meta has also established a special operations center, staffed by native Russian and Ukrainian speakers, to monitor for harmful content trends, while it’s also added new warning labels when users go to share war-related images that its systems detect are over one year old.

Meta’s also outlined a range of safety features for users in Ukraine, “including the ability for people to lock their Facebook profile, removing the ability to view and search friends lists, and additional tools on Messenger”.

Thus far, Meta seems to be staying ahead of major misinformation trends in the conflict, though the amount of posts from spammers and scammers seeking to capitalize on the situation for engagement is significant.

UPDATE (2/28): Meta has also announced that it will restrict access to content from Russian state-affiliated media outlets RT and Sputnik in response to requests from EU officials.

YouTube

At the request of the Ukrainian Government, Google-owned YouTube has announced that it’s restricting access to Russian state-owned media outlets for users in Ukraine, while it’s also suspending monetization for several Russian channels.

YouTube’s also removing Russian state-owned channels from recommendations, and limiting the reach of their uploads across the platform.

As per YouTube (via The Wall Street Journal):

“As always, our teams are continuing to monitor closely for news developments, including evaluating what any new sanctions and export controls may mean for YouTube.”

In response, Russia’s state communications regulator has demanded that access to Russian media’s YouTube channels be restored on Ukrainian territory.

The situation is similar to Facebook, which could eventually see YouTube also face restrictions within Russia in response.

Twitter

As it looks to help ensure optimal flow of information for users within the impacted region, Twitter has announced a temporary ban on all ads in Ukraine and Russia “to ensure critical public safety information is elevated and ads don’t detract from it”.

Twitter banned political ads, including those from state-affiliated media, back in 2019, so it’s already ahead of the curve in this respect. The ban on all ads will help to clarify information flow via tweets, while Twitter additionally notes that it’s proactively reviewing Tweets to detect platform manipulation, and taking enforcement action against synthetic and manipulated media that presents a false or misleading depiction of what’s happening.

UPDATE (2/28): Twitter is also adding labels to Tweets that share links to Russian state-affiliated media websites, while it’s also reducing the circulation of this content by removing it from recommendations, downranking it in algorithm-defined timelines and more.

TikTok

A key platform to watch right now is TikTok, with reports that Russian-affiliated groups are using the app to spread ‘orchestrated disinformation’, while thousands of related videos are being uploaded to the platform, many fake, causing significant headaches for TikTok’s moderation teams.

The introduction of monetization incentives for popular clips has also added new motivation for bad actors to create fake streams and broadcasts in the app, in a bid to lure viewers, while on the other side, reports have also suggested that Ukrainian TikTok users are using the app to communicate Russian troop locations to Ukrainian fighters.

Thus far, TikTok has made no official comment on the conflict, nor how its platform is being used. And given that TikTok is owned by China-based Bytedance, and China has backed Russia’s action in the region (to some degree), it may not take a firm stance, officially.

But already, some are labeling this the ‘TikTok War’ given the way the platform is being used, which could force TikTok to take more definitive action, and it’ll be interesting to see if and how it does so in line with its links back to the CCP.

UPDATE (2/28): TikTok has now geo-blocked content from Russian state-affiliated media outlets for users in the EU. Those outside the EU can still access this content.

The conflict is a significant concern for all of the world, but most obviously for the Ukrainian people, and our thoughts are with those directly impacted by the conflict, and their families.

Hopefully, a peaceful resolution is still a possibility.

By: Content and Social Media Manager

Source: How Social Platforms Are Responding to the Crisis in Ukraine | Social Media Today

Dow Jumps Over 800 Points After Russia Says It’s Open To Talks With Ukraine

The stock market jumped on Friday, with the Dow surging over 800 points—its best day since late 2020—amid reports that Russia is open to negotiating with Ukraine, even as Russian troops close in on the capital city of Kyiv and Ukraine has not yet agreed to meet for talks.

Stocks rebounded strongly on Friday: The Dow Jones Industrial Average was up 2.5%, over 800 points, while the S&P 500 jumped 2.2% and the tech-heavy Nasdaq Composite 1.7%.

Despite remaining on track for weekly losses, all three major indexes rose for a second day in a row, with markets getting a major boost from reports that Russian President Vladimir Putin may be open to talks with Ukrainian leadership.

A Kremlin official said Friday that Moscow is willing to send a delegation to Belarusian capital Minsk for negotiations with Ukraine, Forbes Ukraine reported, a day after Western leaders unveiled a new set of widespread sanctions against Russia.

The move comes after Ukrainian President Volodymyr Zelenskyy reportedly offered for his country to have a nonaligned status with NATO—a key demand of Putin’s in the weeks leading up to invasion that Western countries repeatedly rejected.

The latest developments, which boosted U.S. stocks higher as investors hope for a quick resolution to the conflict, come even as Russian troops continued to advance on Kyiv, with reports that the bombing of Ukraine’s capital city intensified on Friday morning.

Oil prices moderated somewhat on Friday, declining slightly after a recent surge driven by the Russia-Ukraine conflict briefly pushed prices above $100 per barrel, the highest level since 2014.

All 11 sectors of the S&P 500 moved higher on Friday, with financials, materials and consumer staples leading the benchmark index’s gains.

The market is staging a “very strong rally” with big outperformance in value and cyclical stocks, as “investors welcome headlines about possible Russia-Ukraine negotiations in Minsk (along with reports that Moscow’s assault on the country isn’t going nearly as well as Putin hoped),” according to Vital Knowledge founder Adam Crisafulli.

Though stocks are still on pace for a losing week, all three major indexes rebounded on Thursday, reversing steep declines even after Russia officially invaded Ukraine. While stocks opened sharply lower—with the Nasdaq briefly falling into a bear market (more than 20% below its record high last November), markets staged a stunning rebound as investors bought the dip.

“Russia invading Ukraine has added to an already tense year, with investors selling first and asking questions later,” says Ryan Detrick, chief market strategist for LPL Financial. “But it is important to know that past major geopolitical events were usually short-term market issues, especially if the economy was on solid footing.”

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I am a senior reporter at Forbes covering markets and business news. Previously, I worked on the wealth team at Forbes covering billionaires and their wealth. Before

Source: Dow Jumps Over 800 Points After Russia Says It’s Open To Talks With Ukraine

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Critics:

As stocks surged Friday, Bank of America advised investors to sell into any rally in the market, as three-quarters of the Nasdaq is in bear-market territory and a new era of geopolitical risks commences.

Elsewhere, asset management firm GMO shared guidance on how investors can navigate risk amid a stock market “superbubble” while still making money.

RBC analysts predicted that US stocks will rally 17% by the end of 2022 as they shake off the Russia-Ukraine “growth scare.”

In crypto, FTX CEO Sam Bankman-Fried announced that the crypto exchange gave $25 to every Ukrainian user. “Do what you gotta do,” he tweeted as part of the announcement.

Oil prices fell as Western sanctions on Russia so far have avoided its energy industry. West Texas Intermediate crude dropped by more than 1% to $91.82 a barrel. Brent crude, the international benchmark, slipped 0.8% to $98.28 a barrel.

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Russian Billionaires Lost More Than $126 Billion In Wealth Amid Ukraine Invasion

Update: Forbes Real-Time feed updates exchange rates once a day at 9:30 a.m. After factoring in the tumble of the Russian ruble against the U.S. on Thursday, Forbes estimates that Russian billionaires have lost more than $126 billion in wealth since February 16, compared to our initial report of a nearly $90 billion loss. Numbers throughout have been changed to reflect the plunging value of Russia’s currency.

Russian President Vladimir Putin summoned some of the nation’s business leaders today to a meeting at the Kremlin. At the meeting were at least 13 billionaires: Vagit Alekperov, Pyotr Aven, Andrei Bokarev, Andrei Guriev, Mikhail Gutseriev, Suleiman Kerimov, Andrey Melnichenko, Leonid Mikhelson, Alexey Mordashov, Vadim Moshkovich, Vladimir Potanin, Dmitry Pumpyansky and Vladimir Yevtushenkov, according to state-owned news agency TASS.

“What is happening is a necessary measure,” he reportedly told them. “We were simply left with no chance to do otherwise.”

None of the billionaires have apparently commented, some likely too scared of Putin to speak out against the invasion. But they are not immune.

His attack on Ukraine has not only wreaked havoc on Ukraine, it has destabilized markets around the world and hit the fortunes of even his closest allies. Tens of billions of dollars have been wiped from the fortunes of Russia’s billionaire elite as the country’s stock market and the ruble plunged after President Vladimir Putin launched a full-scale invasion of Ukraine.

Russia’s roughly 116 billionaires have lost more than $126 billion since February 16, Forbes calculates. Of that, an estimated $71 billion was wiped out on Thursday, after Russia’s Moex index closed down 33% and the ruble plunged to a record low against the dollar. The threat of sanctions extending beyond the small circle of billionaire oligarchs and businesses already targeted by the United States, United Kingdom, and European Union could bite further into the fortunes of Russia’s richest.

At least five of the billionaires at the Kremlin Thursday – Alekperov, Mikhelson, Mordashov, Potanin and Kerimov – were among the day’s biggest billionaire losers. Altogether at least 11 Russian billionaires lost $1 billion or more each on Thursday.Lukoil’s Vagit Alekperov was the biggest billionaire loser from the Moscow Stock Exchange sell off sparked by President Putin’s order to invade Ukraine.

Alekperov, a former Caspain oil sea rig worker and former Soviet oil minister who set up Lukoil, Russia’s largest independent oil producer, was the biggest loser. He saw $4.2 billion, or around 17.1% of his fortune, disappear as Russian oil and gas stocks plunged. Lukoil shares, which are listed in London and Moscow, are down more than 30% since the start of the military build up to the invasion.

Lukoil was targeted by the U.S. along with other Russian energy companies like state-owned Rosneft in 2014 by financial and technological sanctions over Russia’s seizure of Crimea and could again be targeted by Washington, Brussels and London.

‘Londongrad’ Sanctions

Billionaire Gennady Timchenko, who was targeted this week by British sanctions, was also among those whose fortunes took the biggest hits. Timchenko, who owns stakes in various Russian businesses, including gas company Novatek and petrochemicals producer Sibur, saw around $4.2 billion wiped from his fortune.

Timchenko, who is still worth more than $19 billion, was named as a part of Putin’s “inner circle” in sanctions imposed by the U.S. Treasury after Russia’s annexation of Ukraine’s Crimea peninsula in March 2014. Those sanctions led Timchenko, who claims to have met Putin in the early 1990s, to sell his 43% stake in Gunvor, then the world’s fourth largest oil trading group.

The U.S. had claimed that Putin himself had investments in Gunvor and may have had access to the group’s funds, allegations denied by the Geneva-based trading house. Gunvor has disputed that allegation.VTB Capital has offices in the heart of London’s financial district and today was named in new sanctions imposed after Russia’s invasion of Ukraine.

The British government earlier this week also sanctioned three other super wealthy Russians , including Putin’s former son-in-law (and former billionaire) Kirill Shamalov. Following Russian strikes on Ukraine it also announced an asset freeze of Russia’s banks, and a ban on Russian nationals from holding more than $66,000 (50,000 pounds) in a U.K. bank account.

Prime Minister Boris Johnson has also reportedly pushed Western leaders to go further and eject Russia from the SWIFT international payments system, one of the main pipelines for international finance and banking. Czech President Milos Zeman, once one of Putin’s keenest supporters in Europe, also called for Russia to be cut out from SWIFT for a “crime against peace” despite hesitance from some European leaders over the economic fallout for all parties of locking Russian businesses and energy companies out of the payments system.

British opposition lawmakers called for Prime Minister Boris Johnson to go further and seize the assets of the Russian billionaire Roman Abramovich. The billionaire owner of Premier League soccer team Chelsea FC, who made his fortune in Russia’s oil industry after the fall of the Soviet Union, has repeatedly become caught in the long-running diplomatic tensions between London and Moscow.

“We have more individuals on our list, who we are ready to sanction,” U.K. Foreign Secretary Liz Truss told LBC radio on Wednesday when questioned if Abramovich was a target for sanctions. “Nobody is off the table.”

Abramovich, who had more than $1 billion wiped from his fortune this week, is reportedly without a British visa after his entrepreneur visa reportedly expired in 2018, but has been able to visit his soccer team thanks to newly acquired,  Portuguese citizenships. Any moves the British government makes towards his ownership of his beloved soccer team could be threatened by a $2 billion loan he made to Chelsea. Sports fans and many others will be watching.

Russia’s Big Losers  (measures Thursday’s one day drop)Leonid Mikhelson

Down $4.5 billion, – 16.5%

Major shareholder of gas producer Novatek.

Vagit Alekperov

Down $4.2 billion, – 17.1%

Former Caspian oil sea rig worker and former Soviet oil minister is chairman of Russia’s largest independent oil company, Lukoil.

Alexey Mordashov

Down $4.2 billion, – 14.4%

Majority shareholder in steel company Severstal, which he ran for 19 years as CEO.

Gennady Timchenko

Down $4.2 billion, -18.1%

Timchenko was hit with sanctions on Tuesday after Putin deployed forces to the two regions in eastern Ukraine.

Vladimir Lisin

Down $4.1 billion, – 13.5%

Chairman of NLMK Group, a leading manufacturer of steel products.

 Suleiman Kerimov

Down $3.2 billion, – 22.7%

A trained economist, Kerimov made a career investing in distressed companies in Russia. Most of his fortune now comes from his family’s stake in Russia’s biggest gold producer, Polyus.

Vladimir Potanin

Down $3 billion, – 10.7%

Named as a close associate of the Russian president by the U.S. Treasury in 2018, most of his fortune is held in mining giant Norilsk Nickel.

Oleg Tinkov

Down $2 billion, – 52.2%

The founder of Russian bank, Tinkoff, was sentenced last year for filing a false tax return and agree to pay more than half a billion to the U.S. government. .

Mikhail Shelkov

Down $1.7 billion, – 38.9%

Former head of the investment division of state-owned Rostec, which controlled military contractors in Russia, he now gets most of his fortune from his stake in VSMPO-AVISMA, the world’s largest titanium producer for the aerospace industry.

Leonid Fedun

Down $1.4 billion, – 14.2%

Former military man-turned-financial whiz is Alekperov’s right hand man at Lukoil.

Roman Abramovich

Down $1.2 billion, – 8.4%

British opposition lawmakers have demanded the seizure of Abramovich’s assets including Chelsea football club. It won’t be so easy.

Send me a secure tip.

I joined Forbes as the Europe News Editor and will be working with the London newsroom to define our coverage of emerging businesses and leaders across the UK and Europe. Prior to joining Forbes, I worked for the news agency Storyful as its Asia Editor working from its Hong Kong bureau, and as a Senior Editor in London, where I reported on breaking news stories from around the world, with a special focus on how misinformation and disinformation spreads on social media platforms. I started my career in London as a financial journalist with Citywire and my work has appeared in the BBC, Sunday Times, and many more UK publications. Email me story ideas, or tips, to iain.martin@forbes.com, or Twitter @_iainmartin.

Source: Russian Billionaires Lost More Than $126 Billion In Wealth Amid Ukraine Invasion

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Critics:

The fortunes of Russia’s super-rich have tumbled $32 billion this year, with the escalating conflict in Ukraine poised to make that wealth destruction much larger.

U.S. President Joe Biden on Tuesday unleashed sanctions targeting Russia’s sale of sovereign debt abroad and the country’s elites, and said he’s sending an unspecified number of additional U.S. troops to the Baltics in a defensive move to defend NATO countries.

Gennady Timchenko heads the list of Russian who have seen their fortunes drop, with almost a third of his wealth disappearing this year, according to the Bloomberg Index, a listing of the world’s 500 richest people.

Timchenko, 69, the son of a Soviet military officer who met and befriended Russian Federation President during the early 1990s, now has a fortune of about $16 billion, with the bulk of his wealth derived from a stake in Russia gas producer Novatek, according to Bloomberg’s wealth index.

ALSO READ: West preps more sanctions if Russia launches full-scale Ukraine invasion

Fellow Novatek shareholder Leonid Mikhelson’s fortune has tumbled $6.2 billion this year, while Lukoil Chairman Vagit Alekperov’s net worth has declined about $3.5 billion in the same period as the energy company’s stock has slid almost 17%.

The country’s 23 currently have a net worth of $343 billion, according to the wealth list, down from $375 billion at year-end.

Markets slumped further this week after Putin recognized two separatist republics in Ukraine, leading to Germany halting an energy project with Russia and the U.K. imposing sanctions on five of the country’s banks and three of its wealthy individuals, including Timchenko.

Also on the U.K.’s sanctions list are Boris Rotenberg, 65, and his nephew, Igor, 48, whose families made their fortune through gas-pipeline construction firm Stroygazmontazh.

Igor’s father, Arkady, one of Putin’s former judo sparring partners, sold the pipeline firm in 2019 for about $1.3 billion. He purchased a minority stake from his younger brother Boris five years earlier when both siblings and Timchenko were hit with U.S. sanctions over Russia’s annexation of Crimea.

Additionally, U.S. Secretary of State Antony Blinken said Tuesday he wouldn’t meet with Russian Foreign Minister Sergei Lavrov this week because it “does not make sense” given Russia’s moves in Ukraine.

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