Illegal Capital Export Cited

By The Moscow Times

May 23, 2011

Illegal capital exports from Russia stood at $37.6 billion last year, Customs Union Commission Executive Secretary Sergei Glazyev said in a report posted on the commission's web site Monday.

The report was presented at the latest meeting of the Eurasian Economic Community Interstate Council, attended by prime ministers last week.

Some $8 billion were exported as "net errors and omissions," $15.7 billion as "overdue export revenue," and $13.9 billion as "fictitious securities transactions," he said.

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