The share of Russian money transfers to unfriendly countries fell by 30%
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In 2022, the share of transfers from Russians to unfriendly countries decreased by 29.3% in annual terms and amounted to 13.5%, the Bank of Russia specifies. At the same time, the total volume of Russians’ transfers abroad increased in the second quarter.
“The change in the share is associated with an increase in absolute terms in the volume of transfers to friendly countries, both far abroad and to the CIS countries,” explains the change in the financial environment in the review of the risks of the financial markets of the Central Bank (.pdf).
The peak of transfers from Russia to the CIS countries was recorded in May of this year, an absolute record was then set in relation to Armenia – $266 million was received on local accounts from Russia in a month (compared to $115 million in March). Then the increase in the volume of transfers tied up with the mass opening of accounts by Russians of international payment systems and migration to the Transcaucasus.
About transfers in the CIS – in the material “Kommersant” “Money went to fraternal accounts”.
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