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Russia's Richest Lose $16 Billion Over Latest U.S. Sanctions

  • Market tumult erases yearly gains for Russia’s 27 wealthiest
  • Sanctioned tycoon Deripaska has lost $2 billion since Friday
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Russian Stocks Take Worst Hit Since 2014 on U.S. Sanctions

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It was a painful day to be a Russian billionaire.

The combined net worth of the country’s wealthiest people fell by $16 billion Monday -- erasing all of their year-to-year gains -- following last week’s U.S.-imposed sanctions.