Central Bank Chairman Sergei Ignatyev told the State Duma on Tuesday that capital outflows are linked to increased acquisitions of foreign assets by nonfinancial companies.
Net capital outflow for the first 10 months was about $21 billion, Ignatyev said.
He also said five banks owe the Central Bank 46.5 billion rubles ($1.5 billion) in unsecured loans. Three of the banks have been stripped of their operating licenses, Ignatyev said, adding that he “hopes” the remaining two banks will repay the loans.
(Bloomberg)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
