₦airaland Forum

WriterNig:
https://cloudfront-us-east-2.images.arcpublishing.com/reuters/NP2WVNRXFRL7NEDY3K2KP6LNWM.jpg

🇷🇺 Russians got richer last year even as the war in Ukraine raged on, while the US and Europe lost trillions of dollars, UBS reported.

Russia added $600 billion of total wealth, the Swiss bank found in its annual Global Wealth Report, published Tuesday.

The number of Russian millionaires also rose by about 56,000 to 408,000 in 2022, while the number of ultra-high-net-worth individuals — people worth over $50 million — jumped by nearly 4,500.

But the US lost more wealth than any other country last year, shedding $5.9 trillion, while North America and Europe combined got $10.9 trillion poorer, UBS reported.

There were also 1 million fewer American millionaires by the end of 2022, although the US still accounted for over 50% of the world's ultra-high-net-worth individuals, the bank said.

Russia's wealth gains came despite its invasion of Ukraine in February, which has led to the West imposing sanctions on the Kremlin that led to its economy shrinking and triggered a slump for Moscow-listed stocks.

UBS acknowledges that "wealth trends in Russia are difficult to determine at this time," but did highlight it as one of a handful of countries that had gotten richer in 2022.

Rising oil prices could be one factor behind the wealth increase, with exports of the commodity a key economic engine for Russia. The cost of a barrel of benchmark Urals crude jumped by about $7 last year, data from Refinitiv indicated.

Mexico, India, and Brazil all also added significant amounts of wealth in 2022, UBS's report suggested, while the US, Japan, China, Canada, and Australia lost the most.

Johncarlo07:
D USA economy is a little bigger.
I only quoted ur response to d news abt Russia economy getting bigger,nd u responded wit a comparison of deir poor currency against d dollar.

And just like I said earlier, China currency is vry poor too,bt China economy is one of d biggest in d world! Infact it has been projected dat d Chinese economy will surpass dat of d United States by 2030.

Soo avin a poorly performing currency doesn't stop a country economy from performing well nd grow.

FEGNO:
This may be the most ignorant post of the year. Almost all the millionaires in Russia first of all are tied to Putin and corruption very much like Nigeria. The US millionaire are commodities, tech, finance or oil millionaires in free trading and nothing to do with Government. And secondly US citizens are by far richer and live better than Russians

preciousmetals:
foolish propoaganda, a country with less than $2 trillion gdp is making $600 billion in one year, Rubbish

obedience4:
Just curious, do you know the current ruble and dollar rates

You believing that the dollar will crash is like believing that the earth is flat

seunayantokun:
https://www.politico.eu/article/russia-oil-vladimir-putin-ukraine-war-wide-open-back-door-to-europe-critics-say/

https://www.independent.co.uk/news/world/europe/eu-largest-importer-russia-oil-ukraine-war-b2321756.html

Kindly take a look at the above stories.

Bigchristo:
I previously mentioned that middlemen are the ones buying Russia oil and sell to EU, read and digest the report EU can’t buy directly from Russia due to the sanctions there’s a middleman that buys from Russia and sell to EU. Just like I want to want to buy your products through someone else automatically you’re not the person selling for me despite the facts that’s your product. Na dem use their hand cos that problem

seunayantokun:
In short, Russia has technically defeated them.

Jane74:
No. China economy (GDP, PPP) = 30,327,320.30 mln $; USA = 25,462,700.00 mln $

Сheck yourself here: https://data.worldbank.org/indicator/NY.GDP.MKTP.PP.CD
Since the end of 2021 China ahead of USA.

And what about Russia and its currency..
fist of all, now dollar costs 95,20 Roubles

the exchange rate of the ruble to the dollar does not mean anything to the population of the country.
Now in Russia they joke: "90% of the population in Russia do not know what a dollar is."

The Central Bank of Russia weakens the ruble exchange rate from time to time so that exporters earn more and then pay more money to the state budget.

Bigchristo:
Yes but they don’t want to agree to this in order for them not to look weak 😂💔