CHELSEA owner Roman Abramovich’s fortune has dropped by about £650million in just one day due to mounting tensions between Russia and Ukraine.
The multi-billionaire Russian tycoon, 55, has seen the value of his 28.6 per cent stake in steel group Evraz, fall sharply.
Investors fear sanctions will be imposed on Russian companies.
Shares in Evraz, which is listed on the London Stock Exchange, were down 129½p, or 29 per cent, at 315¼p.
Danni Hewson, a financial analyst at investment platform AJ Bell, said: “The new trading week has begun on a bad note across Europe and Asia.
“Investors fear the alarm clock is about to sound on a physical battle between Russia and Ukraine.”