Ukraine (bbabo.net), - Despite Western sanctions, Russia created an additional $80 billion foreign stash last year, Bloomberg reports.
In the West, they say that last year they froze $ 300 billion of the Central Bank of Russia, which it kept abroad. However, where all these funds lie is still unknown even in the capitals of Europe and North America themselves. At the same time, according to Bloomberg, last year Russia was able to create another nest egg abroad - $ 80 billion.
“Russia was able to generate a stash abroad of about a third of the $227 billion windfall it generated last year from energy exports. This creates a new flashpoint as the US and its allies seek to tighten their sanctions,” the agency writes.
According to Maria Shagina, an economist at the British International Institute for Strategic Studies, the nest egg helped offset Russia's loss of frozen funds from the Central Bank.
“The creation of international assets was forced, not deliberate. Sanctions pushed Russians to reduce imports, while commodity prices spurred exports,” Maria Shagina said.
Ukraine's Western allies will start hunting for the Russian stash, Bloomberg notes, but it will be very difficult to find it, since it is distributed on the accounts of various controlled companies, and part of the funds is invested in real estate and other assets. For example, the gray fleet, which is now transporting Russian oil to Asia, which Europe has refused.