Capital outflow from Russia to the UAE increased by almost 100 percent
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Since 2022, the export of capital from Russia to the United Arab Emirates has reached 96%. This was reported by Forbes with reference to the head of the risk assessment department of Rosfinmonitoring Evgeny Shevlyakov.
Any monetary transactions involving Russian residents can be considered an outflow of capital. For example, buying currency or transferring money to foreign accounts.
According to Shevlyakov, capital outflow has greatly modified since February 2022. Thus, the financial flow to the offshores of unfriendly countries fell, and funds from them began to return back to Russia.
He noted that in addition to the UAE, there is another popular destination for capital outflow – Serbia. But here you also need to understand that part of the money will return back to Russia.
Deputy Head of the Tax Policy Department of the Ministry of Finance Alexander Smirnov said that the strong export of capital to the UAE may be due to a change in the corporate registration of Cypriot holdings that own Russian production assets. They need to look for the most profitable place to develop their business – this is one of the leading Middle Eastern countries.
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