Russian oligarchs lost $16 billion after President Trump imposed sanctions on Russian entities last week.

“I lost $250 million a day," Oleg Tinkov, founder and chair of the board of directors at Tinkoff Bank, said during a business conference in Moscow Tuesday, according to NBC News . "But there have been worse days. I remember I lost a billion in a day. So, actually, it was a very positive day."

The powerful Russian businessman who lost out most as a result of the sanctions was Vladimir Potanin, a nickel miner, whose wealth fell by $2.25 billion.

Russian billionaire Oleg Deripaska’s aluminum production company Rusal lost 50 percent of its stock on the Hong Kong stock exchange.

The Russian ruble also fell to its lowest point against the dollar since 2016. According to reports, as Russian stocks continue to tumble, the Kremlin said it would step in to help support companies affected by the sanctions.

Trump took an aggressive stance against Russia on Friday by imposing sweeping sanctions against these oligarchs, government officials, and companies that are members of Putin’s inner circle.

Friday’s actions targeted seven Russian oligarchs, and the 13 companies they own or control, as well as issuing sanctions on 17 senior government officials, a state run weapons trading company, and a Russian bank. The sanctions froze the U.S. assets of the Russian entities and banned most transactions with them.