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Helping the russian war effort. next, they announced sanctions on russia's central bank saying they will freeze all assets of it within the european union and carried on to emphasise that there are severe reactions to the swift messaging service which international banking uses, russia will have a great deal of trouble using that service. next they talked about targeting oligarchs, notjust restricting private jets but saying they will target the assets of russian oligarchs. the reason that is significant is we know the west sees that applying pressure to oligarchs, very rich, almost always men...

>>, no because putin has money offshore, and oligarch accounts. there's been speculation about how much money putin has overseas. he's undoubtedly stolen billions. but that's also never been clearly substantiated. vladimir putin, anytime he wants, can simply steal money from state controlled companies and any company inside russia. trying to sanction oligarch accounts and the idea you would hit putin in his wallet, that ultimately does not matter because he can replace those yachts and replace those bank accounts by stealing from state assets. i do think that most russians, actually, do not li...

Oligarchs' mansions and jets and yachts are the things that will put a strangle hold on putin or his ability to finance a war or finance an economy that keeps him in a place where he doesn't have uprisings in the streets in russia. you know, the oligarchs loom large in the western imagination because they played a serious role both in the politics and the economic structures of russia and they were for the large number of them were predators. they grifted and stole state assets. putin came to power in the economic rubble of 19 -- that followed the 1998 economic collapse and he put a prominent ...

A time when new russian companies assumed state assets. like all oligarchs, particularly those who became rich in the 1990s, he's had to deal with putin. mr abramovich denies having a close relationship with putin, but the uk government has described him as a "pro—kremlin oligarch associated with vladimir putin, with whom abramovich has had a close relationship with for decades." they added he's obtained financial benefit from that association. here's the uk culture secretary. he has links to putin, who is mounting a barbaric and evil attack against the people of ukraine. let's talk about th...

Comment. forbes estimates as of this year abramovich is worth $14.5 billion. but now he's in "jeojeopardy of losing many of his high-priced toys, helicopters, super cars and mansions. abramovich accumulated much of his wealth when the soviet union collapsed in 1990s and russian state assets were divided up. >> you had these state-owned companies that got privatized. and he was there and was able to buy up and be part of buying up a number of these companies and became incredibly wealthy. this is sort of the classic era of gangster capitalism in the 1990s. >> reporter: he bought an oil company ...