They are afraid of confiscation and sanctions: rich Russians return their wealth to the Russian Federation - Bloomberg

The total wealth of 26 richest Russians amount to about $ 350 billion, which can significantly reflect on the economy of the states where they will be withdrawn or where they will be taken away. The Russian rich fears the confiscation of their assets in the West, so they look for various ways to protect accumulation and return money to Russia. Bloomberg writes about it. As a result of the war in Ukraine, the scheme of transfer of wealth was actually destroyed by the Russian rich rich.

Even Cyprus and Switzerland have introduced a ban on providing family trust services in which Russian citizens are trusted persons or beneficiaries. In this regard, wealthy Russians seek to transfer accumulations to so -called friendly countries, such as the United Arab Emirates, or to transfer them to Russia, as Bloomberg writes, most billionaires who came under sanctions have decided to transport assets home.

Two Russian billionaires under the conditions of anonymity have told reporters that they can now do business in Russia and not think about potential assets arrests. Another sub -magnate who transferred assets to his homeland said he had not yet decided what to do with his inheritance, but he and his family began to build a new life in Russia. 26 Russians, which are included in the Bloomberg billionaire index, have a total fortune of about $ 350 billion.

Accordingly, how and where they decide to transfer their wealth in the coming decades will be reflected in the economy and in all business sectors. According to a lawyer from Dubai Darya Nevskaya for Bloomberg, there is no general trend to withdraw funds to Russia. "Every case is unique and depends on where people plan to live in the future and where their basic assets are located," Nevskaya said.

This is due to the fact that the business environment in Russia depends on informal agreements and guarantees that have developed in Putin. "Although he stated that he did not plan any deprivation or nationalization, good relations with the authorities are a key factor in avoiding asset confiscation," Bloomberg writes.