At least 12 businesspeoplereceived more than 1 trillion rubles, or $11.4 billion, in dividends for all of 2023 and the first quarter of 2024, according to Bloomberg on Tuesday. The outlet based its calculations on publicly disclosed information.
Many of the tycoons who received the dividend windfall are closely tied to Russian President Vladimir Putin, according to the news outlet. Some of them have been sanctioned by the West.
The biggest winners from the dividend payouts were commodities exporters that have benefited from Russia’s pivot of its trade eastward toward China, India, and other countries in the global south. Their key customers were previously from Europe.
Source: BUSINESS INSIDER AFRICA
