What are Russian Oligarchs? And what are the sanctions against them?

What are Russian oligarchs? And what is the status of sanctions against them? What could cause the sanctions to backfire?
The term "oligarch" refers to a rich, powerful businessperson who has significant control over the economy. The reason they're so influential and important is because they have a lot of money, which allows them to influence decisions that affect the rest of society. In recent years there's been increasing focus on these people in Russia - especially those with close ties to Putin - and how their interests coincide with Western countries' interests as well as those in other parts of the world.
In this video I'll talk about what an oligarch is, what the sanctions are against the Russian oligarchs, and whether or not these sanctions will have the intended effect.
00:00 Intro
00:30 What is the goal of the sanctions?
01:18 What is an Oligarch?
03:27 How much wealth do the Oligarchs have?
04:10 How many Oligarchs are there and have been their losses?
07:33 How much is Vladimir Putin worth?
09:02 What are the sanctions against Oligarchs?
Ways to help Ukraine:
Ways to help the people of Ukraine
Links from The Globe and Mail: www.theglobeandmail.com/world...
Links from NPR.org: www.npr.org/2022/02/25/108299...
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#oligarchs #sanctions #russia

[@ovalwingnut]

Now that was 12 mins well spent. I am more well informed on this subject than I would have ever guessed. You are a good human. 125 points awarded. Cheers.

[@abrvalg321]

The only problem I have with this sort of sanctions is that London was willing to accept stolen or corrupted money for 30 years.

[@bryankilvinski]

Your only problem is localized to one city?

[@JoaoSantos-ur1gg]

@@bryankilvinski Read again.

[@richardlanchester249]

Well, we have our crooks in power, too!

[@reggiebishop5398]

You can go back alot further than 30 years depending on what country

[@murasakinomorado7210]

@@JoaoSantos-ur1gg @Bryan Kilvinski has a legitimate point, Russian Oligarchs own property all over The UK, not just London… but bigger than that they have their money in countries and tax havens all over the world, such as, the US, France, Germany, Canada,Switzerland, etc. to name but a few. Why is the question focused on the city of London, and not the British government? Tony Blair flung open the door for them, in the 90s, and they haven’t looked back since.

[@maryankitsenko9694]

As a Ukrainian volunteer from Kyiv, thank you!

[@colleenverdon6315]

Your explanations are so clear and easy to understand, even for someone (like me) who has little knowledge or interest in economics. What an excellent speaker you are! It was fascinating, I learned a lot! Thank you.

[@PreetBanerjee]

That is such a nice compliment - thank you!

[@dvprao]

The other day, somebody asked me about this concept. from now on I will simply forward this be done with it. Well done!

[@MariaFerreira-gj1xu]

Explained with extrordinary clarity and to the point. Thanks

[@dianekoziol6990]

Great explanation. So clearly presented for us!

[@sunflowertomorrow6411]

Wow, it’s great to discover your channel during this very confusing time! 🙏

[@saminderpaulsinghmokha3014]

Thank you Preet, a very good explanation!

[@VM-yd6zq]

When assets are seized or “frozen”, who takes the money? Where do these funds go; how can it be certain they are used to aid a humanitarian effort?

[@mopheousredpill7462]

It won't it just will get shifted, there is no honor among theives.

[@salvadorpitadzunga9608]

We also have the same question with you

[@tamo9520]

Explained so clearly! Thank you for this video! Very informative!

[@maxcarter3895]

Well spoken, well done. Canada. Facts vs speculation mean a lot these days. Thank you.

[@seanhewlett6570]

Absolutely fantastic content as always!

[@PreetBanerjee]

Thanks Sean!

[@dave8059]

Great video and information!

[@gairoonagi2666]

A very informative and education video. Thank you.

[@gabriellex6142]

Very educating video! Thank you Preet it was very helpful for my upcoming presentation in economic laws - this one alongside the one on SWIFT.

[@theiceman8190]

Great video!

[@jailynn8264]

Thank you for explaining this

[@xx-uz2kz]

Nice job. Very clear and concise. Thanks

[@charlysantamaria8646]

Nice one 👍

[@carynvonblankenburg]

Thank you for your presentation. Sanctions SEEM to be harmful to bad guys, but I've yet to see any in my lifetime that haven't harmed the working stiff far worse.withe the bad guys still in power. I pray we don't put our troops in another countries conflict as we have for 60 years..I lost my husband in Iraq, years after we should've left. It's sad for everyone except the offenders.

[@ednapavel558]

⁶⁶⁶⁶6666⁶

[@junereith3400]

Sorry for your loss they say that there’s so many victims of war but it’s always the family that are the true victims…

[@jermainemyles1825]

Sorry for your loss but America should have not gone to Iraq in the first place I loss a friend also ,Bush should be the only one from America that died in Iraq he started the war after all

[@danilocatalon2014]

Absolutely informative.

[@josephsonachi720]

Bestest lecturer with genuine explanation!!!

[@janettawallace3722]

Quite interesting info . Thanks for doing this. Learned something new.

[@benpatsy2076]

Superbly explained.

[@ZezimaTruth]

Thank you. I keep hearing this word being thrown around

[@tonyrebel63]

Very educational video, thanks for sharing.

[@publiccommentor5201]

Queen of England is considered oligarch

[@mopheousredpill7462]

With all the wealth they have stolen over the centuries from their "colonies" I would think so.

[@chrismason6857]

Very interesting. This needs to go viral.

[@allanhoffman5314]

Very well explained thank you

[@dickblock]

Very informative

[@obdtm]

Great video, thanks!

[@aminomidi7629]

Thanks for the explanation

[@sebastianmendonca1026]

Excellent video Sir & Hats off to You . God Bless !

[@tenak7278]

Excellent explanation. Thanks.

[@sheronjohnson2041]

Was wondering what the word meant 🤔thank you for the explanations.

[@shootingsportstransparency7461]

So right

[@ToasterOvens]

Absolutely great explanation and interesting info. Thank you for sharing us this video… New sub!!

[@PreetBanerjee]

Thank you!

[@51tomtomtom]

Loved your video !

[@PreetBanerjee]

Thank you, Thomas!

[@cathydebolt6393]

Thank you. Interesting

[@josephaittahanaouate5159]

Thanks so much I learn a lots from you

[@ritagregorio2363]

Thank you for the info . Very interesting ❤🇨🇦

[@vanfergo]

Very informative , Thank you. I’m now subscriber .

[@PreetBanerjee]

Thank you!

[@dulcemendoza8711]

Well said

[@murraywards2645]

Thanks for your very clear explanations...

[@jay.a3926]

Interesting analysis of the implications of sanctions.

[@misclic2408]

ty

[@BradyPostma]

Aristotle's rebuttal to Plato, _On Politics,_ also included Oligarchy as one of his three types of political systems. I love that you went back to the ancient Greeks for this video!

[@Tanya401life]

What an excellent video! Straight to the point with a nice social breakdown.😄

[@jpwpropertycare.drivewaysa285]

I pray our sovereign God the Father keep you safe in Jesus name amen

[@chedzamarobela466]

😂

[@mursalwarsame5839]

New subscriber!!!

[@mimmi1704]

This explain everything thanks

[@carlosquintana3434]

Nice presentation. Greeting's from Canada.

[@js-amg]

Thank you. A good video. If I may say, these sanctions may work in the long run. But it doesn’t stop tanks and shells killing innocent people.

[@TcupsYorkiesAvailable]

hey that was good good info.that i didnt know

[@flxfarias1]

I was inquiere to find the word oligarca Diccionary dont clear but with explenation of Mr, Preet clear and understood .. thank you

[@gerrydave7586]

Plenty to go around for sure!

[@arvindsingh4685]

My brown man - you are on point - dhanavadh 🙏

[@gerrykomalaysia2]

Nice

[@jerryape4631]

Greetings from UK ! Few Russian oligarchs live here, Friend of mine works as Security guard in one of the reachest estates in UK , it's called Virginia Water Lake ( 20 minutes by car south of Windsor Castle ) Rolls-Royce, Bentleys, Buggati etc. Are parked in here. Actually he sits in front of cctv screens next to gate of one of them. They must protest against Putin as my friend's colleagues found one of them DEAD. You can read it in news just google Virginia Water lake Russian oligarch found dead... You never know when viewfinder will be on you, when you are an Oligarch ...

[@crhu319]

That just proves they are not oligarchs but agents of an autocracy. True oligarchies are Ukraine, UK, USA, Canada and Israel.

[@ginawyithe711]

very imformative. your subsriber here. Thank you

[@gidyon5373]

You have a rich broadcast voice. Have you considered being a voice over artist? You would ace. Great video.

[@PreetBanerjee]

That’s so kind! I do some radio work from time to time but no voice over work.

[@tonnywildweasel8138]

Thanks for your explanation sir! As I was wondering: Is it even legal to seize money and property from oligarchs? Under which (international) laws can a country/institution do that? Who decides when you are an oligarch? How about those who made their fortune doing buisiness with oligarchs? Who monitors whether these laws (if they exist) are properly applied? It all seems a bit 'Grey area' to me; to my lack of knowledge I think. Anyway, I also hope that these sanctions will contribute to a swift end to this terrible war. Greets from the Netherlands 🌷, T.

[@gb-jg1ud]

It is questionable if it is legal to seize these assets....even if they are thieves or criminals. The precedent that they are able to do this without trial outside their country of origin is extremely worrisome

[@gb-jg1ud]

You are asking all the right questions.

[@lucienvandegaart3611]

International war tribunals. First just sieze it than drag it out under control until it's figured out like 20 years. By then they'll all be outta the picture because of time. Time kills us all and you die free from 100 slashes of paper cuts made of paper money. The world in has many targets. God says don't steal just once but man has 10000 laws on how people steal and get caught from a sour drop to a billion $ it's all stealing. One probation the other a life sentence

[@phongtu1727]

I used to deal millions dollars with those people, their money came from corruption , extortion, may be drugs but they are legalized their status in here because they are investor ( most but not all off them).

[@tonnywildweasel8138]

@@phongtu1727 : I have worked in justice departement. I've never seen that having "too much" or "too little" money brings out the best in people. But I realise that my vision is formed by my work. I hope that there are a lot of goodhearted nice people, regardless their bankaccount.

[@johngraham4157]

Great video on what is an oligargh and how theu have gotten ich off of the common or Plebecite populace?

[@CosmosChill7649]

In India, oligarchs like Tata, Birla, Adani and Ambani are notable to belong to the brahmin, parsis and bania communities for many centuries

[@zeniehudson7098]

Philippines is praying for you. Glory to Ukraine, you will prevail!

[@yakakiyakaki]

Great explanation - keep up the great work. Slava Ukraini!

[@MisterK-YT]

Man that is an absolutely fantastic beard.

[@junereith3400]

Really enjoyed your video and your descriptions of the oligarchs a word I hadn’t heard before.. but excuse my ignorance but who is doing the seizing of these assets was one thing that I don’t think you touched on and I would really like to be enlightened… thank you

[@PreetBanerjee]

Governments (i.e. the Department of Justice in the US would file for warrants and then assets would either be frozen or real property and tangibles could be seized)

[@junereith3400]

Thank you understand and is that because they come from ill gotten gains in the first place

[@PreetBanerjee]

@@junereith3400 That’s right. They need to have a reasonable idea that they were connected to sanctioned or illegal activities and then they need to later prove it in court. It’s a lengthy process but can be a deterrent because it’s also onerous for the oligarchs and while things get sorted out, they effectively can’t use these assets or access them.

[@mopheousredpill7462]

@@PreetBanerjee So theives stealing from theives.

[@bobmorane4926]

Why is Abranovich not on the Canadian sanction list of targeted russian oligarchs ? There might be a few others which were also not on the list according to an article in the Financial Post ? Selective list, why ?

[@PreetBanerjee]

I don’t know. I’ve seen some speculation that it might have to do with how solid their case would be to levy sanctions as if they can’t back it up in court later there can be issues. I understand that’s one of the reasons the UK has suggested is behind their slow approach. Among myriad others.

[@marlenaforbes-reidy9876]

Excellent coverage thank you

[@rhythmandacoustics]

Like unrealized gains, unrealized loss functions the same way. I do not think that the billionaires of Russia actually got less rich than they have. They still own the assets merely the valuation has changed. The confiscation of a very few assets such as Yatchs, and so on, is nothing, same way as the banks losing millions. Being kicked out of SWIFT also is not a solution. The loop holes of the energy industry exception will make it easy to just manipulate some assets as part of the energy companies assets. It's not like we never had accounting frauds before. Western Europe is screwed but North America is safe.

[@jayjones2791]

Igor and Olga! Imagine that lol Russians love the letter “K” and “v”!!! Oh and “y” Such a hard language

[@vilena5308]

Thank you for sharing. Huh, true, they use oligarchy only for Slavs. Wonder how that came around... And why not plutocracy?

[@thaddeusvines7485]

As a human being thank you.

[@bernardadell6749]

What about Plutocracy?

[@jrude100]

Oligarch’s all over work that’s why we have poverty and all the governments are to blame.. who are the oligarchs in England??

[@crhu319]

Aaron Banks.

[@user-ds3ml3pk1n]

Would it be possible for you to interview Mikey Hamster ?

[@louis993546]

I really really want to see the Amazing Race - Oligarchs edition 😂

[@planetearth4146]

Sir censiya kana dito ako nag comment sa page mo by the way tank you sir for update news,kasi hindi makakarating pag nagmensahe ka sa mga yan.

[@warrenbennett1863]

Would it be possible for these yachts to founder after running into rogue icebergs in the Indian Ocean? Just asking😉

[@Ellie-qo6bw]

Much love from India bro... i dont support Putin on this act.. this is preposterous.. thanks for updating on this..

[@Eserr7856]

How is the seizing of assets of oligarchs legal in the international community? Is it on the international courts authority? These are regular businessmen not involved in the Russian government right?

[@jaysondgreat8171]

How about American and European oligarchs?

[@helenheard3512]

No one selfish man should have that type of wealth.

[@privateprivate2421]

Most of them have fled to Dubai where they've been welcomed with open arms.

[@maxheadrom3088]

The observation made by Quartz is confirmed by DW Russian born journalist, Adnrei Asnipov, also says they have no political power - Putin is the guy who removed the Oligarchs that held Yeltsin hostage, put his own in place and later removed political power from them. Gorbachev wanted to move into a market economy during 20 years. Privatization did not start under his leadership but under Yeltsin's term as the first elected president of Russia. Privatization in Russia was designed by a Russian economist but the infamous Harvard Team was advising Yeltsin. (Look for "How Harvard Lost Russia"). Ultra-liberals from the Chicago School are as crazy as Leninist revolutionaries and they keep trying to make their idea work (democracy springing from a minimum State, private enterprise and no regulation). Milton Friedman himself implemented it in Chile after Pinochet's coup. It was the recipe used in all Eastern European countries and it did not work well anywhere. In Russia, however, it was a catastrophe. Here's the chief of the Harvard Team, Jeffrey Sachs, talking about the cost Russia paid in the 1990s: kzbin.info/www/bejne/qWOupGaVhJacbZY Oligarchs were originally the group of managers of the Soviet companies that bought the vouchers that represented the stocks in those companies. Here's the thing: they gave the vouchers to the population - a population that had no idea what that meant. Oligarchs paid pennies on the hundreds for those papers because the people did not have money to eat. Oligarchs, therefore, is a term used in the Eastern block countries that had the same type of privatization, economic crisis and corruption. Market economy in those places just made corruption a whole lot more efficient. The documentary I linked is a 3 part/6 hour long PBS piece called The Commanding Heights and was made after 9/11. It's biased because it does not do the critique of the system that people like Jeffrey Sachs was already doing. There's another failure: they don't mention Brazil. I'm Brazilian and we had an accumulated inflation from 1985 to 1994 equal to 85,000,000,000%. An economic plan started under the presidency of Itamar Franco with Fernando Henrique Cardoso as the Minister of Economy - and later two times president - managed to stabilize the economy and we have never had a 2 digit yearly inflation since then. It was not shock therapy and not ultra-liberal. The financial system is better regulated than that of the US and the welfare system was strengthened. The core of the plan was from economist Edmar Bacha and was used in Israel during the 1980s. The plan could only be applied in Brazil after the flow of capital between international markets was made possible in the 1990s. I followed the news at the time because there were international speculative capitals betting against all the emerging economies at the time and a lot of countries went bankrupt - important countries like Korea, Indonesia and ... Russia. And the US/EU (mainly the US) did nothing to help the second largest nuclear power in the world. Then Yeltsin resigned and his vice took office - shortly after he would be elected the President of the Russian Federation: Vladimir Putin. The guy has an old mindset, is authoritarian, destroyed the Russian democracy in its infancy and is now (it seems he really started to believe in his own lies) is invading Ukraine. Why, then, a lot of Russians support him? Just propaganda? No ... this is why: data.worldbank.org/indicator/SP.DYN.LE00.IN?locations=RU Life expectancy in Russia since 1980. There are two deeps and they start at 1) End of the USSR and 2) Bankruptcy of Russia. After that it only grows. Corruption corrodes democracy and thrives in authoritarian regimes because the antidote is transparency. Putin could have made Russia a much better place if he attacked corruption. Putin, however, is an authoritarian egomaniac who thinks he's the only one who knows what's best. A democrat is someone who never loses because even when a democrat loses - democratically - the system is alive and working: democracy. I really hope this war ends as soon as possible because I have friends and I admire both countries - and if they solve their problems democratically and diplomatically then they'll be examples to other places.

[@Tacoman1967]

Gollygogs!

[@njidechu]

Another meaning for "oligarch" is "tyrant."

[@anthonycarter8158]

These people are the owners.

[@Sebastianroman4791]

Si siguen a ese paso no habrá Oligarquias en Rusia sino ruinas en un país frágil.

[@hiermitubergeben3079]

Freeze all

[@wealthiness]

2:43 why is Musk sitting on Bezos LOL

[@PreetBanerjee]

He just does what he wants

[@rickg672]

The oligarch explanation was understood but the reminder of the discourse which served as a backdrop was a mixture of truth and fiction aimed at discrediting Russia. As for the legality of the sanctions they are highly questionable.

[@reggiebishop5398]

Seems to be the new tool being used by banks and it's one way to stir up a money nest and see where they're keeping it and who knows how far this is going but it's certainly being used alot lately

[@gothops2632]

Hey Preet, how old are you man?

[@PreetBanerjee]

Guess first then I’ll tell you 😊

[@gothops2632]

@@PreetBanerjee 43

[@PreetBanerjee]

@@gothops2632 Very close: 44

[@deeone5326]

Thank you for the education. We the ppl of the world must unite; the global elites will eat us alive if we don’t.

[@dr.debbiewilliams]

Who knows?

[@smartserviceoliver8116]

Mmmmmm intressant

[@lonerider5315]

Amazing. I just ate a sandwich 5 mins ago and thought to myself, what the hell is an oligarch...

[@luzrealtor2414]

Have you search on Cabo San Lucas Mexico? You might find some of them there. LOL