Everyone will continue working right up to the next Hague tribunal

(written by lawrence krubner, however indented passages are often quotes). You can contact lawrence at: lawrence@krubner.com, or follow me on Twitter.

An interesting comment from a Russian tycoon:

With casualties mounting and Russian troops forced to turn back from Kyiv, the war is now being viewed with increasing dismay not just by billionaires sanctioned by the West but even by some members of the security establishment, according to two people with knowledge of the situation.

One referred specifically to Shoigu, who took part in the war preparations. “They all want to have a normal life. They have homes, children, grandchildren. They don’t need war,” this person said. “They’re all not suicidal. They all want to have a good life. They want their children to have everything and be able to travel to the most beautiful places.”

The mounting pressure on their foreign bank accounts is a source of particular chagrin for the elite. Even officials who tried to protect themselves by moving their money into accounts belonging to business partners now find that these accounts are blocked, one of the Moscow executives said.

Western sanctions to freeze $300 billion — or nearly half — of the Central Bank of Russia’s hard currency reserves left Moscow reeling, including central bank governor Nabiullina, whose resignation attempt was rejected by Putin, according to the five people familiar with the situation. (Bloomberg News first reported her attempt to resign.)

Nabiullina “understands very well she can’t just leave. Otherwise, it will end very badly for her,” one of these people said.“No one can say ‘That’s it’ and then slam the door,” said Vadim Belyaev, the exiled former main owner of Otkritie, Russia’s biggest private bank until its takeover by the state in 2017. “

Everyone will continue working right up to the next Hague tribunal,” he said, referring to a possible war crimes trial. The central bank has denied that Nabiullina tried to resign.Only those officials who are superfluous to the running of the state — and are relative outsiders — have been allowed to leave, economists said.

“No minister is allowed to step down,” said Maxim Mironov, an associate professor at IE University in Spain. “It is like a mafia.”

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