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Russia got richer even as the war in Ukraine raged on last year, while the West shed trillions of dollars of wealth
(www.businessinsider.com)
this post was submitted on 16 Aug 2023
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With this headline Bloomberg seems to be implicitly (borderline explicitly) saying that the wealth loss is tied to the war in Ukraine. Here is the actual report this article is based on:
https://www.ubs.com/global/en/media/display-page-ndp/en-20230815-global-wealth-report-2023.html
No mention of Ukraine. The wealth loss is tied to inflation, appreciation of the dollar to other currencies, and losses in the financial sector.