Fall out over Ukraine

A new situation has developed for businesses who are either Russian firms trading in the UK or are UK firms trading with Russia. Essentially the billion pound business has had been halted due to the sanctions over Ukraine war which has seen the West turn against the forces of Putin in disgust as the actions that have created the largest European war since 1945.

One casualty is the former Strictly Come Dancing business-woman Kristina Rihanoff who has had a backlash over her endorsement of Putin’s war against innocent civilians in the Ukraine (hurriedly retracted when she realised public opinion). According to The Sun newspaper her dance business is £500,000 in debt due to not being able to work normally during the pandemic.

Another Russian on the run is the incredibly wealthy Roman Abramovich who famously owns Chelsea FC in London. The owner of the club is thought to be close to Putin but suddenly changed the ownership of the business to the trustees of the club. They are seeking clarification as they are not sure about the move. It’s a mess as the Kremlin sycophant tries to save his reputation. His wealth is reported to be losing its value by several million since the Russian army invaded Ukraine.

The EU announced today Russian billionaires will no longer be able to dock their yachts in European docks and have added sanctions against a number of Russian individuals including Alisher Usmanov and Oleg Deripaska.

The net is closing but for those who trade with Russian businesses in the UK, but there is a problem as if the firms are in free fall as Kristina Rihanoff’s firm is then the question is will suppliers get paid?

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