The richest Russians moved billions of dollars abroad due to fears for the economy - Bloomberg

Several of Russia's wealthiest individuals, including those close to Putin, have moved billions of dollars abroad amid growing concerns about the country's economy and the government's budget. This was reported by UNN with reference to Bloomberg.

Details

According to the publication, high-profile cases of asset seizures have heightened fears among the Russian elite that the state could confiscate their wealth or that they could lose their fortunes.

Many wealthy Russians continue to seek investment opportunities outside the country, despite the difficulties caused by the war and sanctions. The capital outflow also remains a pressing issue in Russia as the war drags on — according to the Central Bank, by one general measure, about $250 billion left the country in the first year of the conflict.

Putin is seeking ways to increase revenues after finance officials warned him that spending on the war in Ukraine is exceeding acceptable limits. He aims to protect defense expenditures by focusing cuts on other areas of state spending. While much of the country is experiencing hardship, the wealth of Russian billionaires has grown over the past year, increasing pressure on them to bear a larger share of the burden

A spokesman for Russian dictator Vladimir Putin, Dmitry Peskov, did not respond to a request for comment.

Additionally

Concerns about the financial health of Russian banks have intensified since last summer, when banking industry representatives expressed worries about the level of debt on their balance sheets and warned that their prospects are worse than publicly acknowledged.

The pro-Kremlin think tank "Center for Macroeconomic Analysis and Short-Term Forecasting" warned in May that it sees signs of an approaching systemic banking crisis.

Recall

In the second quarter of 2026, Russians sharply increased their purchases of dollars and euros, with demand for foreign currency tripling.