Capital flight from Russia will reach $110bn by the end of 2015 as Western sanctions limit foreign investment and force Russian companies to pay off billions of dollars in foreign debt, according to a report from the country’s Economic Development Ministry published yesterday. The ministry’s base forecast anticipates that US and EU sanctions over Moscow’s actions in Ukraine will remain in place until the end of 2018. “This means that Russian companies’ access to world capital markets will remain limited and there will be quite a high level of capital outflow from the private sector due to debt repayments,” the report said.
Capital flight from Russia to reach $110bn by year end, Ministry predicts
Source: The Moscow Times