Chelsea owner Roman Abramovich "a billionaire loses 800 million dollars in one day"

The fortune of billionaire Roman Abramovich, owner of the English club Chelsea, witnessed a decline of more than 800 million dollars in one day, after the share of the mining company Evraz listed on the London Stock Exchange, in which Abramovich owns a large stake, fell. and Ukraine.

The Blues owner is among the richest club owners in the Premier League, according to the 2021 Forbes Billionaires List, with a fortune of $14.5 billion that puts him 142nd on the list.

Evraz's stock fell

Concerns about possible sanctions against Russian companies in light of recent developments have led to Evraz's shares falling sharply with Abramovich, who is the company's largest shareholder, affected, according to the British Mirror.

This Is Money reported over the weekend that Abramovich's stake in Evraz fell by $677 million in three weeks, to $2.52 billion, and concerns remain as the situation between Russia and Ukraine remains uncertain.

Imminent war

A war between Russia and Ukraine appears imminent, despite diplomatic efforts by Britain and the United States, after the British in Ukraine were directed to leave the country. Stock market experts say escalation of tensions between the two countries is likely to affect the market, with Danny Hewson, a financial analyst at AJ Bell financial services, as saying, "Investors fear that a war is about to start between Russia and Ukraine."

Obsessed with the markets

Oil prices rose more than 2% on Monday to their highest level since September 2014, as Ukrainian President Volodymyr Zelensky said he had told him Russia could invade his country on Wednesday.

As a result, Brent crude futures rose $2.04, equivalent to 2.16, to settle at $96.48 a barrel, while West Texas crude futures jumped $2.36, or 2.53%, to $95.46 a barrel.

Investors are concerned about uncertainties about the war and how it could threaten production, analyst Marcus Sotirio of British brokerage Global Block said in a note Monday, according to Forbes, citing US President Joe Biden's warning that he would shut down the Nord Stream 2 pipeline project. If Russia escalates its military action.

“Russia is likely to pay a heavy economic price” if it invades Ukraine, David Kelly, chief global expert at JPMorgan Funds, wrote in emailed comments on Monday, citing the potential for costly sanctions, and noting that an increase in global energy prices would be one of the most important. Among the first repercussions given that Russia accounts for more than 10% of global production.