Photo: Lucas Jackson / Reuters
The largest investor in the Russian economy at the end of 2017 were the United States, reports owned by Grigory Berezkin RBC, citing data from the UN Conference on trade and development (UNCTAD).
According to UNCTAD, at the end of 2017 (most current data), the share of American investors accounted for 8.9 per cent of total accumulated investment, or 39.1 billion from 441,1 billion dollars.
Also, according to the U.S. Department of Commerce, at the end of 2017, investments of American companies in Russia was equal to 13.9 billion dollars. Thus, according to the official information of the Central Bank over the same period, they accounted for 3.05 billion dollars, which is almost 13 times less.
The difference is explained by the fact that UNCTAD was removed from the statistics data in the intermediate jurisdictions, served as a transit points. Often foreign investments come to Russia via countries that are not the direct source of those investments. Thus, a U.S. Corporation can acquire a stake in Russian through a foreign subsidiary.
The Bank of Russia evaluates these investments for the latter, and eventually information about investments from countries such as USA, Germany, France and so on, are systematically underestimated, and investments from countries such as the Netherlands and Luxembourg, or from offshore — inflated.
In August last year, the U.S. Treasury said that due to sanctions, foreign investors have significantly reduced investments in the Russian economy. Thus, the total foreign direct investment has declined since 2013 by more than 5 percent. Investment in the U.S. over the same period — 80 per cent.
Video, photo All from Russia.