Revealed: Russia’s Offshore Accounts

[TomSea]

Revealed: Russia’s Offshore Accounts
Posted on August 24, 2017

A research paper published by the Paris School of Economics and UC Berkeley has revealed the true level of economic inequality in Russia in 2017, as well as some startling facts about Russia’s offshore wealth.

According to the paper, the total volume of offshore capital kept by Russians exceeds over three times the level of the country’s foreign exchange reserves.  This number is somewhere around 75% of Russia’s GDP, and it is growing.

Many in Russia will be unsurprised by such figures, corruption being a particularly poignant motive for political protest in 2017 after Alexey Navalny’s Anti-Corruption Fund took to exposing the enormous hidden wealth of some of Russia’s most recognisable public figures.

Continued: https://www.khodorkovsky.com/revealed-russias-offshore-accounts/

However, the report lays bare some shocking realities: “As much money is kept abroad in Britain, Switzerland, Cyprus and other such offshore centres, as is kept inside Russia by the entire Russian population.”