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Martiak Market UpdateTop Trends Shaping The Market Author: Mark Martiak
Martiak Market Update discusses the top trends shaping the global financial markets and economies. This podcast explores topics ranging from market updates, to the economy and personal finance. Money is knowledge, and I understand life happens and this program will help you navigate your relationship with money, with timely guidance and a unique perspective. Language: en Genres: Business, Business News, Investing, News Contact email: Get it Feed URL: Get it iTunes ID: Get it |
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A Global Hunt for Russian Oligarchs’ Assets Has Begun
Episode 22
Wednesday, 16 March, 2022
Welcome everyone to theMartiak Market Update with your host Mark Martiak. Mark is a Managing Directorof Investments with AGP/Alliance Global Partners, aregistered investment adviser and broker-dealer, member of FINRA/SIPC. This show will explore topicsranging from market updates to the global economy and personal finance. Moneyis knowledge, and Mark wants to help you navigate your relationship with moneyby offering timely guidance and his unique perspective. Here's Mark Martiak.Mark speaking: Welcome.Thank you for joining me as we discuss key trends shaping our industries andmarkets. It’s been a humanitarian crisis for thepeople of Ukraine, many of whom have faced devastation as the Russian invasionand war entered a third week. You hear a lot about economic sanctions thathave been put in place by countries including the U.S.. During this program, I want to look at sanctionsplaced on Russia’s Oligarchs who are on the move amid a global dragnet thatWestern governments have cast to ensnare their yachts, villas, jets, and bankaccounts.You May HaveWondered: What is a Russian Oligarch?Oligarchs — or extremely wealthy business leaders who arepolitically connected — becamemore prominent in Russia in the 1990s, but they are not unique toRussia. Many Russian oligarchs are heavily involved in and benefit fromRussian President VladimirPutin's regime, with some serving in political positions. For example, when Putin opened a new bridge toCrimea in 2018 — a region Russia had annexed from Ukraine in 2014 —the bridge was built by his friend Arkady Rotenberg's company and the truck hedrove across it was made by Sergei Chemezov's state corporation Rostec,according to TheCarnegie Moscow Center, a think-tank that focuses on domestic andforeign policy.There is often a line of succession for oligarchsin politics. For example, Dmitry Patrushev, the son of Russian Security CouncilSecretary Nikolai Patrushev, was appointed as Russia's minister of agriculture,according to The Carnegie Moscow Center. Numerous Russian oligarchs and government officials weresanctioned by the U.S. in 2018, in part for the regime's occupation of Crimeaand for continuing to instigate violence in Ukraine, according to the U.S.Treasury Department, which announced the sanctions. Rotenberg’s son and Patruskevwere included in that round of sanctions for their involvement with the regime. "Russian oligarchs and elites who profit from
