As Russians face financial crisis, President Vladimir Putin dons costly Loro Piana jacket in pro-war rally
Russian President Vladimir Putin dons $13,181 Loro Piana jacket during rally.
At a time when Russian citizens are facing numerous issues triggered by sanctions, Russian President Vladimir Putin, while giving speech at huge pro-invasion rally, donned a Loro Piana jacket.
The clothing is worth nearly 1.5 million Russian roubles, which is equivalent to around $13,181 or £10,200. It is also worth around 25 times the average monthly salary of Russians.
The 69-year-old president vowed to fight for the 'universal values' of all Russians in an expensive jacketwhen citizens face poverty.
Also Read:LIVE | Ukraine claims to block Russian forces' advance into Kyiv
In Russia, many designer shops have already shuttered but still the president could get the luxury Italian coat when the country's economy has crashed dismally.
The sanctions imposed by Western nations over Ukraine invasion have forced Russians to deal with a huge financial crisis.
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As of March 11, the annual inflation in Russia has risen to 12.54 per cent, which is a big reason to worry for citizens living under Putin's regime.
Yulia Shimelevich, who is a 55-year-old French tutor in Moscow, said, "My life has already collapsed. All the luxuries that we had grown accustomed to, in recent years, like imported products and clothes, are already in the past. The hardest part will not be tightening our belts... but separation from my son and a feeling of guilt in front of the whole world."
(With inputs from agencies)