Support The Moscow Times!

2013 Illicit Capital Outflow at $22 Billion Through September

Illegal or dubious transactions were the cause of $22 billion of capital outflow from Russia for the first nine months of 2013, Central Bank chief Elvira Nabiullina said Wednesday.

"The situation in which a large amount of capital is involved in illegal operations has to change," Nabiullina said, Prime news agency reported.

The total amount of suspicious capital outflow last year was $39 billion, she said, adding that the Customs Union's simplified trading procedures have played a major part in facilitating these illegal financial schemes.

About $47 billion has been funneled out of the country through the Customs Union in 2012 and 2013, Nabiullina said.

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.