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Stanislav Markus, Associate Professor of International Business, University of South Carolina

Meet Russia’s oligarchs, a group of men who won't be toppling Putin anytime soon

Putin has kept most oligarchs at a distance – literally and figuratively. Alexey Nikolsky/Sputnik/AFP via Getty Images

U.S. President Joe Biden and other world leaders are setting their sights on Russia’s oligarchs as they seek new ways to punish Vladimir Putin – and those who have enabled him and profited from his reign – for waging war in Ukraine.

Biden singled out wealthy oligarchs in his State of the Union address, promising to “seize your yachts, your luxury apartments, your private jets.” “We are coming for your ill-begotten gains,” he said. And in the U.K., two more rich Russians were added to the nine other oligarchs who have been personally sanctioned over the invasion.

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