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24 September 2017
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The Times: Billions of euros secretly flowing from Russia to UK

Over the past 10 years, about 100 billion pounds (more than EUR 138 billion) have been secretly transferred to the UK, including a substantial sum from Russia, according to the report in UK newspaper The Times, citing a study by Deutsche Bank.

REUTERS
REUTERS

The publication notes that most of the capital came from Russians who are "looking for a safe place to store or launder their money outside the country."

The experts found a correlation between the data of the Central Bank of the Russian Federation on the outflow of capital and data on capital inflows to the United Kingdom, with a significant share of funds pumped into the real estate market.

Among other countries and regions that use the UK as a safe harbor for funds are Greece, Israel, China and the Middle East.

According to the bank’s data, the net outflow of capital from Russia in 2014 amounted to more than $150 billion. The highest outflow took place in autumn, coinciding with the introduction of new sanctions on Russia. In 2013, the figure stood at $61 billion, or less than half as much.

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