Latest news with #VladimirPotanin
Russia Today
02-07-2025
- Business
- Russia Today
Richest Russians add $24 billion to wealth
The combined net worth of Russia's wealthiest businessmen rose by more than $24.5 billion in the first half of 2025, according to data published on Monday by the Bloomberg Billionaires Index. The index, which tracks the daily fortunes of the world's 500 richest individuals, updates based on fluctuations in the share prices of companies tied to them. Vladimir Potanin, who owns a significant stake in the mining giant Norilsk Nickel, has led the ranking once again as the richest Russian businessman on the list. Since the start of the year, he recorded the largest individual gain among Russian billionaires, increasing his fortune by $3.85 billion to a total of $31.7 billion, data showed. Vagit Alekperov, founder of Russia's second-largest oil company Lukoil, came in second. He has reportedly earned nearly $1.5 billion, bringing his net worth to $26.8 billion. Alexey Mordashov, the chairman of steel giant Severstal, was ranked the third-richest Russian businessman. He has earned $1.4 billion since the beginning of the year, increasing his fortune to $24.7 billion. Mordashhov was followed by Vladimir Lisin, the majority shareholder of Russia's NLMK steel company, who took fourth place on the index. Lisin was the biggest Russian loser during the period. The estimated value of his fortune fell 1.72 billion to $24.1 billion, according to Bloomberg. Leonid Mikhelson, co-owner of Russia's second-largest natural gas producer Novatek, took fourth place in the index, with a total of $23.7 billion. His net worth has grown by $1.31 billion. Meanwhile, Alisher Usmanov, a major shareholder in iron ore producer Metalloinvest and co-owner of telecom operator MegaFon, followed Potanin closely in terms of gains, with his wealth rising $3.17 billion since the start of the year. His net worth stood at $16.4 billion as of July 1, Bloomberg reported. Russia's wealthiest woman, Tatiana Kim, the founder and chief executive of the country's largest e-commerce platform, Wildberries, lost $345 million and ranked 20th among Russian billionaires with a net worth of $7.03 billion, just ahead of Aleksandr Abramov, co-founder of Evraz, the fourth-largest steelmaker in Russia, who rounded out the list with $6.88 billion.
Canada Standard
02-07-2025
- Business
- Canada Standard
China boosting purchases of Russian metals Bloomberg
Aluminum, copper and nickel shipments have surged this year, according to trade data Beijing has increased purchases of Russian metals as Moscow pivots toward Asia amid Western sanctions, Bloomberg has reported, citing customs data. The US and its allies have been targeting Russian base metals in an effort to cut the country's revenues amid the Ukraine conflict. China has become a key buyer of Russian commodities, with overalltradebetween the two countries hitting historic highs last year, exceeding $240 billion. Imports of Russian aluminum jumped nearly 56% year-on-year to almost one million tons between January and May, while copper purchases surged 66% and nickel imports more than doubled, according to Trade Data Monitor, cited by the outlet on Monday. The report noted that while Russian producers Rusal and Norilsk Nickel are not under Western sanctions, their access to global trading platforms has been restricted. In April 2024, the US and UK barred the London Metal Exchange (LME) and Chicago Mercantile Exchange (CME) from accepting new Russian-origin aluminum, copper, and nickel and barred imports of the metals. Washington had earlier imposed 200% duties on Russian-made aluminum products, while Canada enacted a full ban on imports of Russian aluminum and steel. Earlier this year, the EU introduced a phased ban on Russian aluminum, setting a 275,000-ton quota that runs through February 2026. The Kremlin has condemned the sanctions as "illegal," warning they will backfire on those imposing them. The measures triggered spikes in global metal prices, with aluminum seeing its biggest surge on the LME in decades. Moscow has redirected exports to Asia and the Middle East amid the shift away from Western markets. People familiar with the matter told Bloomberg that Norilsk Nickel began boosting sales to China in the second half of 2024. The company is also reportedly working with a unit of Chinese gold giant Shandong Gold to expand copper cathode shipments to the country. Sanctioned producers such as Russian Copper and UMCC may also be shipping metal to China, the sources said. Norilsk Nickel's chief executive, Vladimir Potanin, has said the company plans to relocate some copper smelting operations to China to safeguard exports from sanctions pressure on financial transactions. (
Canada News.Net
01-07-2025
- Business
- Canada News.Net
China boosting purchases of Russian metals Bloomberg
Aluminum, copper and nickel shipments have surged this year, according to trade data Beijing has increased purchases of Russian metals as Moscow pivots toward Asia amid Western sanctions, Bloomberg has reported, citing customs data. The US and its allies have been targeting Russian base metals in an effort to cut the country's revenues amid the Ukraine conflict. China has become a key buyer of Russian commodities, with overalltradebetween the two countries hitting historic highs last year, exceeding $240 billion. Imports of Russian aluminum jumped nearly 56% year-on-year to almost one million tons between January and May, while copper purchases surged 66% and nickel imports more than doubled, according to Trade Data Monitor, cited by the outlet on Monday. The report noted that while Russian producers Rusal and Norilsk Nickel are not under Western sanctions, their access to global trading platforms has been restricted. In April 2024, the US and UK barred the London Metal Exchange (LME) and Chicago Mercantile Exchange (CME) from accepting new Russian-origin aluminum, copper, and nickel and barred imports of the metals. Washington had earlier imposed 200% duties on Russian-made aluminum products, while Canada enacted a full ban on imports of Russian aluminum and steel. Earlier this year, the EU introduced a phased ban on Russian aluminum, setting a 275,000-ton quota that runs through February 2026. The Kremlin has condemned the sanctions as "illegal," warning they will backfire on those imposing them. The measures triggered spikes in global metal prices, with aluminum seeing its biggest surge on the LME in decades. Moscow has redirected exports to Asia and the Middle East amid the shift away from Western markets. People familiar with the matter told Bloomberg that Norilsk Nickel began boosting sales to China in the second half of 2024. The company is also reportedly working with a unit of Chinese gold giant Shandong Gold to expand copper cathode shipments to the country. Sanctioned producers such as Russian Copper and UMCC may also be shipping metal to China, the sources said. Norilsk Nickel's chief executive, Vladimir Potanin, has said the company plans to relocate some copper smelting operations to China to safeguard exports from sanctions pressure on financial transactions.
Business Recorder
25-06-2025
- Business
- Business Recorder
Russia aims to boost grains, vegoil exports to Iran
MOSCOW: Russia aims to boost grains and vegetable oil exports to Iran through the Caspian Sea in the coming months, thanks to an anticipated larger harvest this year and an end to trading restrictions, market analysts and traders said on Tuesday. Trade between Russia and Iran, both heavily sanctioned by the West, grew by 16% to $4.8 billion last year. It primarily goes through the inland Caspian Sea, whose coastline is shared by Russia, Iran, Kazakhstan, Azerbaijan, and Turkmenistan. 'There is potential to increase our supplies of corn, barley, and sunflower oil to the Iranian market,' said Andrei Kucherov, head of agriculture at Reksoft, a consulting firm, partly owned by billionaire Vladimir Potanin's Interros holding. Igor Pavensky, chief analyst at rail carrier Rusagrotrans, said Iran could triple Russian wheat imports to 3-4 million tons in the coming season and boost corn and barley imports to 3.6 million tons from 2.6 million. Iran is the largest buyer of Russian corn and the second-largest buyer of Russian barley. After a pause due to a good harvest last year, Iran resumed wheat purchases from Russia in March, becoming the third-largest buyer in May. 'We are expecting a record sunflower seeds harvest this year. Corn, as well as barley and wheat, are in a good shape. So we have all the possibilities there (to increase supplies to Iran),' said Dmitry Rylko, head of IKAR consultancy. Russian traders said Iran explored the pricing and availability of corn and barley from Russia over recent days. Afghanistan is also in talks with Russia to import certain foodstuffs, a minister told Reuters recently. Russia is expecting to harvest 135 million tons of grain this year, including 90 million tons of wheat, compared with 130 million tons of grain and 83 million tons of wheat in 2024. Iran's harvest is expected to be lower this year due to drought.
Russia Today
02-06-2025
- Business
- Russia Today
Fortunes of Russia's richest grow
The combined net worth of Russia's wealthiest individuals has surged by $28 billion over the past 12 months, according to the updated Bloomberg Billionaires Index. A total of 22 Russian billionaires, collectively worth $317.7 billion, were listed among the world's richest people as of June 2. The Bloomberg Billionaires Index, which ranks the world's 500 richest individuals, is calculated based on the share prices of the companies in which those listed hold equity. The largest jump in wealth was posted by Vladimir Potanin, the owner of mining giant Norilsk Nickel, who remained Russia's richest person on the list, occupying 58th spot globally. The nickel magnate is estimated to have increased his wealth by $3.82 billion in the first five months of the year, to $31.7 billion. Second place is held by Vagit Alekperov, the former boss of Russian energy giant Lukoil, in which he still owns a large chunk of shares. The businessman added $561 million to his wealth this year and is worth an estimated $25.9 billion. Vladimir Lisin, the chairman of NLMK, Russia's largest steelmaker, is ranked third. His net worth declined by $1.62 to $24.2 billion, which saw him slip down one place from Bloomberg's October 2024 listing. The biggest decline in wealth among the richest Russians was registered by the former chairman of fertilizer giant Uralkali, Dmitry Rybolovlev. The net worth of the majority owner and president of Monaco football club declined by $1.77 billion to $9.21 billion. Last year, Rybolovlev, who reportedly has a $2 billion art collection, failed in his attempt to sue top auction house Sotheby's for fraud allegations. Bloomberg's list also included Telegram founder and owner Pavel Durov, as well as Russia's richest woman, Tatyana Kim, the founder and chief executive of the country's largest e-commerce platform, Wildberries. Also listed in the Billionaire Index were the co-owner of gas producer Novatek, Leonid Mikhelson, the chairman of steel giant Severstal, Aleksey Mordashov, and the founder of Eurochem and SUEK, Andrey Melnichenko.
