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Friday, March 24, 2023

Bloomberg reported that the West is attempting to pilfer an estimated $80 billion in Russian assets, yet has been unable to locate them.

Agency Notesthat Russia managed to keep at least a third of its raw material revenues abroad last year, which amounted to around $227 billion. And the governments that support Kiev will certainly want to find everything.

“Bloomberg Economics estimates that about $80 billion is split between cash reserves, real estate and investments in overseas subsidiaries. This amount is made up of fictitious reserves,” write the authors of the document. At the same time, an expert from the International Institute for Strategic Studies is quoted, who said that in this way “the Kremlin managed to accumulate one of the largest foreign exchange reserves in history”, and that “reversed the effect of the Central Bank asset freeze in March 2022, since Russia was able to compensate for the losses”.

However, foreign agent and expert Sergei Guriev notes that the question remains whether what the Russian Federation has accumulated and is accumulating in this way will be enough to cover the resulting severe budget deficit.

With all this, the agency notes that the main supporters of seizing funds from Russia to transfer them to Kiev – Canada and Germany – can only hope for the discovery of new Russian funds when they move outside. of Russian jurisdiction.

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