NPR.

This is the indicator for planet money. I'm Adrian Ma.

And I'm Patty Hirsch. The sanctions imposed by nations in response to Russia's invasion of Ukraine

haven't just been named at Russia's economy.

They've also been named at the personal economies of Russian individuals, the so-called oligarchs.

You may have been hearing about these oligarchs for a couple of weeks now.

They're wealthy men, and yes, they are all men.

And they've had their overseas assets frozen and their freedom of movement curtailed.

Many of the trappings of wealth they're used to have been sort of blocked off to them

in a handful of nations around the world, in parts of Europe, the UK, and the US.

Here's President Biden in a state-of-the-union speech.

We're joining with European allies to find and seize their yachts, their luxury apartments,

their private jets. We're coming for you, it'll be gotten gains.

Seizing an asset means taking it away altogether, but that's something only a court can ally.

Until, or if that happens, the asset will be frozen.

That means the oligarch still owns his boat, his flat, his private jet.

He can even use them if he can get to them. He just can't sell them.

He can't turn them into money, just as he can't access the money in his frozen bank account.

The idea is to put pressure on these men by restricting their movements and cutting off their

access to cash. The hope is that they will in turn put pressure on Russian President Vladimir Putin.

So who are these people exactly? How did they become so wealthy and is sanctioning them likely

to do anything to sway their leader? That's coming up after the break.

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