How do Russian Politicians and Oligarchs Withdraw their Money from Austria?

PeopleOther ♦ Published: February 22, 2018; 08:30 ♦ (Vindobona)

The Russian money nobility has begun to repatriate large amounts of its western-hoarded money back to Russia in order to deprive it of access by Western authorities. The countries of origin are above all Switzerland, but also Austria and Great Britain. Sberbank, Russia's largest and state-owned bank, speaks of an atypically high capital inflow to Russia. Within a few weeks, a tripling of such repatriation transactions took place compared to the same period of the previous year. The sum is hundreds of millions of dollars. The average transfer amount has increased within a year by 50% to 3 million dollars. This meets with the Kremlin's desire to repatriate Russian assets.

Especially from Switzerland and Austria, huge amounts of money are currently being withdrawn / Picture: © Vindobona.org

Donald Trump not only repatriates US money parked abroad, but also Russian money to Russia by spreading fear with the threat of new sanctions.

Especially from Switzerland and Austria, huge amounts of money are currently being withdrawn.

The head of Private Banking at Sberbank mentions Switzerland, but also Austria and the United Kingdom as countries of origin.