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Non-residents have massively withdrawn assets from brokerage accounts in the Russian Federation

Photo: Russian ZMI (pictured)

Russian publications note that this is the first case of outflow of such funds from the third quarter of 2022.

The assets of non-residents in the accounts of Russian brokers at the end of the second quarter of 2024 decreased by 9.6%, to 1.77 trillion rubles. This was reported by Kommersant publication with reference to data from the Central Bank of Russia.

This is the first case of outflow of such funds since the third quarter of 2022.

Most of the assets are recovered by clients from international offshore zones and neighboring countries. In particular, we are talking about assets in the accounts of clients of brokers from offshore companies such as

  • Virgin Islands,

  • Panama,

  • Belize.

Client assets also fell:

  • from Azerbaijan – by 65%, up to 0.5 billion rubles,

  • Uzbekistan – by 30%, up to 59.7 billion rubles,

  • Kazakhstan – by 20%, to 185.8 billion rubles.

Let’s remember that Bloomberg previously wrote that increasing restrictions on the main sectors of the Russian economy threatens its rapid cooling.

Russia’s economy has been kept afloat by the war in Ukraine


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Source: korrespondent

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