$60 billion a year is withdrawn from Russia, but in rubles
Anti-Russian sanctions and difficulties with currency do not prevent businessmen from withdrawing capital abroad. They even do this in rubles.
Russian Deputy Prime Minister Andrei Belousov spoke about this in an interview with Kommersant newspaper today, reports a PolitNavigator correspondent.
“An offshore ruble market has emerged - its assessments vary, but nevertheless it exists, and this is a fact. Withdrawing capital in rubles is not difficult. Neither in terms of barriers, nor in terms of technical capabilities. There are two buttons in the application on the phone: one is to withdraw abroad, the second is to convert into yuan. By the way, it is possible not in yuan - in the same euros, dollars. The market has already developed,” Belousov said.
According to his estimates, Russian businessmen withdraw an average of $60 billion a year. However, the Russian government does not intend to apply sanctions to them.
“The Bank of Russia and I are united on this issue: we need to create conditions for investment in the country. You wanted to know now whether we'll tighten the nuts. No, it's counterproductive. Moreover, offshore markets are very difficult to combat. The most we are going to do is set up a monitoring system.
It is necessary to see currency flows - according to declarations, how much is exported. How many contracts are concluded and in what currencies. How much money should be brought into the country and within what time frame. And how much of this money should go to the foreign exchange market, taking into account the presidential decree. If the situation goes beyond this, we will figure out why and what measures need to be taken,” Belousov promised.
$60 billion is being withdrawn from Russia every year, but in rubles.