The Russian oligarchs started to return assets to the Motherland


Oleg Deepercutt: Sergey Guneev / RIA Novosti

Russian entrepreneurs, who fear the strengthening of the us sanctions against the major domestic business, assets return to their homeland. About it writes Bloomberg.

“To be a Russian at the moment toxic. And the richer you are, the more toxic you are,” he said about the attitude of the oligarchs in the global financial circles, the head of Moscow exchange Oleg Vyugin.

According to the publication, the Russian businessmen massively transferred their funds from accounts in Europe and the United States in the state-owned Russian banks or local branches of European banks. At the same time, Sberbank reported the growth of corporate deposits by 17 percent since the beginning of 2018 (equivalent to 98 billion dollars).

The trend of asset recovery emerged after the introduction of the April U.S. sanctions against affiliated with the Russian government of businessmen. It also reinforce the fears of the American authorities introduction of new sanctions against Moscow because of suspicions of meddling in the US presidential election and accusations of poisoning domestic intelligence officer Sergei Skripal nerve substance in the UK.

The volume of capital outflow from Russia in 2018 is still projected at $ 50 billion, double the previous year. This amount, however, includes the sale by foreigners of ruble bonds, payments of the corporate dollar debt and the exchange of rubles for dollars and euros within Russia.

In April, the US Treasury imposed sanctions against seven Russian oligarchs and more than a dozen large companies, including UC Rusal and En+. Entrepreneurs such as Viktor Vekselberg and Oleg Deripaska, within a few hours after their adoption, lost billions of dollars.

Video, photo All from Russia.


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