US sanctions driving Russian billionaires into Putin’s arms

15:21 • 23.09.18



The Trump administration is helping Vladimir Putin achieve a goal that’s eluded him for almost two decades—getting Russia’s billionaires to start repatriating some of their assets.


Relatively muted sanctions imposed during the Obama era over the conflict in Ukraine have only widened in scope and severity since Trump took office last year. The unpredictability of both the White House and Congress is forcing Russians to move money into state-run banks and rejig the offshore superstructure that’s sheltered fortunes here since communism’s collapse, Bloomberg reports.


Tycoons and their executives said the rush to move assets beyond the reach of the US Treasury started with the biggest enterprises in April, when Oleg Deripaska and Viktor Vekselberg and their companies lost billions within hours of being hit with the harshest penalties to date. Now the trend is accelerating, spurred by the threat of even more draconian measures over Russia’s alleged election meddling and nerve-agent attack on a turncoat spy in England.


“It’s toxic to be Russian,” said Oleg Vyugin, a former senior central bank official who is now chairman of the Moscow Exchange. “And the richer you are, the more toxic you are.”


Most of Russia’s biggest non-state exporters have emptied their accounts in the US and Europe, with many transferring funds to state-run banks or local units of European lenders, several people familiar with the matter said. The central bank doesn’t publish statistics specifically on repatriated funds, so it’s difficult to know exactly how much money companies are bringing back.

But Sberbank PJSC, Russia’s largest lender, just reported a 17 percent jump in corporate holdings in all currencies in January through August, to the equivalent of about $98 billion. And balance-of-payment data show Russia’s private sector brought more financial assets home than it sent overseas in the second quarter for only the third time since sanctions started in 2014.





Загрузка...

LATEST NEWSAll Today news

13:14 • 10/12

Pashinyan will face reality check – Armenia’s snap election attracts wide coverage by intn'l media

12:24 • 10/12

Ex-Nissan chief charged with financial misconduct

11:46 • 10/12

Syrian soldier killed in latest attack by jihadist rebels in Aleppo

11:30 • 10/12

Adam Schiff says Trump faces ‘real prospect of jail time’ after leaving office

11:16 • 10/12

Jamal Khashoggi's last words ‘disclosed in transcript’

11:03 • 10/12

Artsakh president issues congratulatory address on Constitution anniversary

10:13 • 10/12

Parliamentary election 2018: Pashinyan’s bloc secures landslide victory

09:31 • 10/12

Venezuela accuses US of plotting against President Maduro

17:48 • 09/12

Avengers: Endgame trailer beats Infinity War's record for most views in 24 hours

17:41 • 09/12

Frank Sinatra auction fetches $9.2m in New York  

17:30 • 09/12

'Just name any Armenian who isn’t concerned over Artsakh,' Ter-Petrosyan says after voting

16:42 • 09/12

California officially becomes the first state in the US to require ALL new homes to be powered by solar energy

15:15 • 09/12

Serj Tankian: Very proud of Armenian brothers and sister going to polls after fighting corrupt regime

14:56 • 09/12

Turkey’s intel chief informs US senators on Khashoggi murder

14:40 • 09/12

Kocharyan’s arrest ‘unrelated to snap election’, says acting premier

13:51 • 09/12

Thousands march against Serbian leader’s autocratic rule

13:39 • 09/12

Our efforts must focus on economic growth and democracy-building, says parliament speaker

13:06 • 09/12

Dog found waiting for owners where house once stood after California wildfires  

12:44 • 09/12

'This is a vote of future', President calls for responsible attitude to Dec. 9 snap election

12:16 • 09/12

Brazil spiritual healer accused of sex abuse

12:10 • 09/12

All eyes on French Presidnet Macron after fresh 'yellow vest' protests hit Paris again

12:00 • 09/12

Ex-Soviet dissident Lyudmila Alexeyeva dies at 91

11:18 • 09/12

Armenia holds snap parliamentary election

10:21 • 09/12

China threatens Canada with 'grave consequences'

18:07 • 07/12

Robert Kocharyan 'will be taken into custody', lawyer says after appellate hearing

16:50 • 07/12

Pashinyan, Aliyev ‘discussed Karabakh peace’ in St Petersburg

16:10 • 07/12

Australia passes ‘world’s first’ data encryption law

15:51 • 07/12

Oscars 2018: Kevin Hart steps down as host amid backlash from past homophobic tweets

15:09 • 07/12

Armenia ‘turned into big disaster zone’ after 1988 earthquake, Nikol Pashinyan says in Gyumri

14:13 • 07/12

Riots sweep Athens on anniversary of teen’s shooting death

13:27 • 07/12

EAEU member states ‘may transition to single currency’

13:03 • 07/12

Hraparak: Republican MP praises colleagues’ 'principled stance'

12:18 • 07/12

Stunning images taken by powerful new alien-hunting telescopes reveal the raw beauty of our skies

11:46 • 07/12

Armenia to declare December 7 ‘remembrance and disaster resistance day’

11:21 • 07/12

'Thank you for making 41's last ride so special': Emotional George W Bush thanks thousands who turned out to pay respects along the route of his father's funeral train

10:58 • 07/12

'Forgotten calamity': Armenia marks 30th anniversary of devastating earthquake

09:38 • 07/12

Turkey identifies Saudi courrier in Khashoggi murder

09:32 • 07/12

France protests: Eiffel tower to close amid riot fears

18:34 • 06/12

EAEU leaders agree on common oil and gas market, says Russia's Putin  

18:15 • 06/12

Ayb School establishes advisory board  

18:02 • 06/12

Pashinyan: Armenian government sets major task to double population in 20 years

16:58 • 06/12

Armenia interested in further Eurasian integration processes, Pashinyan says in St Petersburg

16:46 • 06/12

BBC Radio Shropshire's Vicki Archer's death was suicide

16:05 • 06/12

Missing Armenian contract serviceman found dead in snowslides  

15:41 • 06/12

Hrant Dink foundation to launch Armenian art workshop series

14:57 • 06/12

Eurasian economic summit may consider revised gas supply prices for Armenia

14:24 • 06/12

Pre-election debates 'must be made mandatory norm' under Electoral Code  

13:56 • 06/12

VW brand to accelerate margin hike for core brand

12:56 • 06/12

Luxembourg to become world's first country to make all public transport free

12:49 • 06/12

This New Year Ucom Offers Buying Smartphones at Special Price and Get 20 GB of Mobile Internet

12:35 • 06/12

Deadly car bomb attack hits Iran's Sourth-Eastern port

12:27 • 06/12

Contract servicemen ‘stuck in snowslide’ in Armenia’s south; one reported missing  

11:59 • 06/12

Armenia, Azerbaijan to hold next summit over Karabakh in January, says Azerbaijani FM

11:11 • 06/12

UN rights boss Bachelet seeks international inquiry into Khashoggi murder

10:49 • 06/12

Pashinyan to attend EEU summit in St Petersburg

10:29 • 06/12

New satellite images reveal activity at unidentified North Korean missile base

09:56 • 06/12

New Armenian-Azerbaijani ministerial summit ‘aimed to clarify positions on Karabakh’

09:30 • 06/12

Huawei executive arrested in Canada

18:02 • 05/12

World leaders to attend George HW Bush funeral

17:23 • 05/12

Armenian parliament speaker hosts delegation from Senate of Italy

16:55 • 05/12

Kanye West's 'stepfather' blames Kardashians for rapper’s erratic behavior

16:39 • 05/12

Australian Open: Andy Murray to use protected ranking to play in Melbourne

16:21 • 05/12

Brazilian woman gives birth, using womb transplanted from dead donor

15:53 • 05/12

Armenia needs mutual clarification of commitments with CSTO allies, Pashinyan tells Russian TV channel

15:05 • 05/12

Turkey seeks arrest of Saudi prince’s aides over Khashoggi murder

14:54 • 05/12

Armenia, Azerbaijan may coordinate statement on Karabakh' at Milan summit

14:38 • 05/12

Alibaba signs e-commerce trade hub agreement with Belgium

14:20 • 05/12

Russian Foreign Minister Lavrov to visit Azerbaijan

14:09 • 05/12

Oscars 2019: Comedian Kevin Hart to host 2019 ceremony

13:26 • 05/12

Kabul ready to talk with Taliban without preconditions – official

13:14 • 05/12

Duchess of Cambridge dons Diana's glittering headpiece once again as she joins William for the Queen's Diplomatic Reception at Buckingham Palace

12:44 • 05/12

Armenia has not made special requests for postponing CSTO summit, says acting premier  

11:57 • 05/12

Heart-stopping moment man falls into a pool of alligators after his rope swing snaps

11:33 • 05/12

US policies on Armenia ‘aimed at fostering independence’  

10:42 • 05/12

US says it will pull out of INF treaty if Russia does not comply within 60 days  

10:21 • 05/12

Zhamanak: Republican’s pre-election strategy 'built on plans to flee Armenia'

09:49 • 05/12

CSTO postpones summit due to snap elections in Armenia

09:39 • 05/12

Tsunami warning issued for Vanuatu and New Caledonia after 7.6 magnitude earthquake

09:13 • 05/12

Italian police arrest mafia's alleged new mob boss and 45 others in major crackdown on organised crime

23:29 • 04/12

As a humanitarian gesture, Artsakh ready to consider Azerbaijani citizen's early release

17:51 • 04/12

EU’s Mogherini holds meeting with acting Foreign Minister Zohrab Mnatsakanyan 

17:38 • 04/12

French Prime Minister Edouard Philippe announces suspension of fuel tax hikes

17:24 • 04/12

South Korean theme park dedicated to cheese features 'wedged-shaped buildings and runs mozzarella-making classes'  

17:08 • 04/12

Kim Kardashian and Kanye West at Cher premiere show

17:01 • 04/12

Scientists detect largest ever black hole collision  

16:48 • 04/12

Three migrants found frozen to death in Turkey

16:18 • 04/12

Iran warns US over attempts to block oil sale

16:13 • 04/12

Israel launches operation to thwart Hezbollah border tunnels

16:05 • 04/12

Ballon d'Or: DJ Martin Solveig sorry for Ada Hegerberg 'twerk' question

15:28 • 04/12

Parliamentary election 2018: Bright Armenia leader calls for re-establishing balance over Karabakh

14:44 • 04/12

Rare gold coins found in Israeli city

14:16 • 04/12

Cannabis firm confirms investment talks with Marlboro maker

14:04 • 04/12

Luka Modric: 'I want to retire at Madrid'

13:58 • 04/12

Audi’s drop dead gorgeous e-Tron concept is full electric and it goes from 0 to 62 mph in 3.5 seconds

13:06 • 04/12

Missing military jet crashes into mountains of Maralik; crew identified (update)

12:43 • 04/12

Armenian authorities seek to establish rule over Artsakh, says politician

12:04 • 04/12

Protest-hit France 'to halt fuel tax rise'

11:50 • 04/12

Sasna Tsrer party vows ‘no concession’ over Karabakh  

11:19 • 04/12

Nepalese bus driver licking own forehead hopeful to break Guiness World Record

11:07 • 04/12

Students blockade schools amid spreading French protests