If you offer Barry Ritholtz a penny for his thoughts, he’ll drop the dime on nickels and tell you that, thanks in part to the Russian invasion, at today’s prices, the nickel in a nickel is worth 12.5 pennies. So when you rub two nickels together, you’re basically rubbing a quarter, which makes the London apartment occupied by the stepdaughter of Russia’s Minister of Foreign Affairs Sergei Lavrov worth about 40,000,000 nickels. My math could be off (I’m a humanities major), but the place is definitely expensive. And the story of that apartment helps explain how Putin’s wealthy cronies spread their money around the world, often by way of second families.

+ “Allies of President Vladimir Putin, arriving on private jets and yachts, are still welcome in the U.A.E., which has yet to condemn the Ukraine invasion or enforce sanctions.” NYT: How a Playground for the Rich Could Undermine Sanctions on Oligarchs.