Russian businesses are moving capital abroad — intelligence reports

Russian companies are moving capital out of the country en masse, according to intelligence reports. Business owners in Russia are increasingly losing confidence in the national economy and are seeking ways to preserve their assets by using various financial schemes and offshore jurisdictions.

This is reported by the Foreign Intelligence Service of Ukraine.

As noted by intelligence sources, the Federal Tax Service of the Russian Federation has recorded an abnormal increase in the number of fictitious loans issued to foreign companies by Russian enterprises with negative equity. The number of such transactions has increased by 70%.

The essence of the scheme lies in transferring funds from Russian jurisdiction abroad under the guise of a reverse transaction. Later, the debt is simply written off or “settled” through non-monetary means. According to estimates by the Russian Federal Tax Service, the share of such dubious transactions has already reached 10% of the total number of deals.

“In fact, we are talking about the withdrawal of hundreds of billions of rubles right now, and this process is only gaining momentum with each passing day,” the intelligence report notes.

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