Rinat Akhmetov is no stranger when it comes to Russian aggression in Ukraine. In 2014, his hometown of Donetsk fell to Russian forces and all his assets in the region became virtually worthless overnight.
For the Ukrainian businessman, however, this setback did nothing to stifle the humanitarian and philanthropic efforts of his charitable foundation – the Rinat Akhmetov Foundation – and his SCM Group assets, all of which have been heavily involved in helping to support Ukrainian citizens affected by the annexation of Crimea and the war in Donbas.
Akhmetov’s February visit to Mariupol
With threats of a fresh invasion looming in mid-February, however, Rinat Akhmetov, who faced criticism for apparently fleeing the country aboard his private jet, quickly returned to his home country. He immediately headed for the port city of Mariupol where his steel and mining conglomerate, Metinvest, is headquartered to speak to and reassure his people on the ground.
“Today, the entire world worries about us,” he told his employees during his visit to the Metinvest facility on February 16th. Akhmetov went on to thank them for their unwavering loyalty amid “uneasy, dangerous, and anxious times”, promising a series of new investments. Akhmetov also talked about his own home city of Donetsk and how it has been occupied for the past eight years, arguing that peace can only be achieved in a “united and happy Ukraine”.
Akhmetov, who visited the facility along with Vadym Novynskyi, also announced that his employees would be receiving increases in pay. “We believe in Mariupol, we believe in Ukraine”, he said. Akhmetov has significant holdings in the region, including the Metinvest Group mining and steel-making conglomerate. “We’ll continue working, we’ll continue building, we’ll continue investing,” he added.
He also told employees that this time around, he is preparing for the worst. “I have already instructed my foundation to help with evacuation, medicines and everything necessary, if needed. We will do everything to prevent a humanitarian disaster,” he assured employees shortly before Russia launched its latest attack on Ukraine.
Stepping up support following attacks on the port city
It wasn’t long until Rinat Akhmetov’s worst fears manifested. Since his visit, fierce fighting broke out in the port city of Mariupol as Russian forces battle to gain control of what would be a strategic location for the invading troops. Putin had already indicated his interest in the city several years ago when Russian troops invaded the Ukrainian regions of Donetsk and Luhansk in 2014. Mariupol sits on the Sea of Azov and is home to approximately half a million people.
The attack on Mariupol has been particularly ruthless. Endless distressing imagery and footage has surfaced showing Russian troops attacking everything from the homes of private citizens to grocery stores and medical facilities, including a maternity hospital, with heavy artillery and airstrikes. This has resulted in significant loss of life that’s already estimated to be in the thousands.
“I can’t wrap my head around the fact that Mariupol is in a complete blockade in 2022, that people are forced to hide in the workshops of our production plants,” Akhmetov recently told reporters at Forbes Ukraine.
“In wartime, our company operates accordingly. Now our utmost goal is to help Ukrainians survive and withstand,” he added.
Despite he and his companies facing significant financial setbacks – his personal fortune is estimated to have dropped from $US14 billion to $US6 billion in just two weeks – Akhmetov has confirmed that his workers are still receiving salaries and that philanthropic efforts will continue as normal. “Today, all our businesses focus all their efforts on helping people.”
The Rinat Akhmetov Foundation has also stepped in to provide relief, just as it did in the wake of Russia’s 2014 invasions.
“My Foundation is helping Ukrainians survive by providing water, food, medicines, and any help we can give here and now. SCM businesses are helping the army and territorial defence forces to defend our sovereignty, our freedom and independence, and win the war.”
Akhmetov on stopping Putin
When asked by Forbes about what he believes needs to be done to stop Putin, Rinat Akhmetov responded, “We see the united action of the western world on an unprecedented scale. I am deeply grateful to our international partners for that. What else can and must they do? I believe everything that Ukraine, the Ukrainian people and the Ukrainian President are asking for.”
While many European nations have stepped up to provide their support, more still needs to be done. European leaders, including the British Prime Minister Boris Johnson, have pledged to provide yet more assistance to the war-torn country. In a phone call to President Volodymyr Zelensky on Friday, March 18, Johnson said, “We know that we must do more to help. I pledge to you that we will.”
As for what will bring the war to an end, Akhmetov says that nothing short of a complete withdrawal of Russian forces, a total ceasefire, and the full restoration of the internationally recognized borders of Ukraine will be sufficient — including those of Crimea and Donbas.
“My heart bleeds from what is happening now in Mariupol: from the fact that Mariupol residents are hiding from shelling in the shops of our factories; from the fact that our power engineers are doing everything possible and impossible to make it light and warm,” Akhmetov said.
Setting aside differences for the greater good
The ongoing situation in Ukraine has prompted Akhmetov, other Ukrainian billionaires, and politicians to set aside their differences and close ranks with the authorities in Kyiv.
According to recent reports, a large meeting between Ukraine’s rich elite and the government of President Volodymyr Zelensky took place in the weeks leading up to Russia’s invasion. While the details of this meeting have not been disclosed, it is thought that the billionaires declared their readiness to help with a range of support measures ranging from the funding of the Ukrainian military to utilising their business assets to produce weapons and other munitions.
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