Several of Russia's wealthiest businessmen, including some close to President Vladimir Putin, have moved billions of dollars out of the country over the past year, Bloomberg reported, citing informed sources, corporate filings, and property purchase documents.
According to a conservative estimate by two sources familiar with the investment decisions of several billionaires, unofficial capital outflows have amounted to tens of billions of dollars since the start of 2026 alone — more than in the same period a year earlier. The exact sum is difficult to determine because a significant portion of transactions, especially those involving cryptocurrencies, does not appear in official statistics.
The businessmen are investing in cryptocurrencies, gold, foreign real estate, and private investment funds. The main destinations are the United Arab Emirates, Turkey, Saudi Arabia, and Cyprus. One of Bloomberg's interlocutors has begun investing in Africa. The number of expensive purchases by Russians is growing in the real estate markets of Dubai, Turkey, and Monaco.
To move money, they use cryptocurrencies and informal financial routes through Armenia, Kazakhstan, and Kyrgyzstan. Bloomberg mentions the company A7, whose owners are listed as fugitive Moldovan businessman Ilan Shor and the Russian state bank PSB (formerly Promsvyazbank). A7 handles cross-border payments using the ruble-pegged cryptocurrency A7A5. PSB has said that in the first half of 2025, the volume of transactions via A7 exceeded 7.5 trillion rubles (about $98 billion).
According to Bloomberg, Russians fear their assets could be seized. Pressure has increased since 2024, when authorities began confiscating property from major entrepreneurs, including those who retained ties to other countries. The agency cites as examples Rusagro founder Vadim Moshkovich, gold-mining owner Konstantin Strukov, and former Domodedovo airport owner Dmitry Kamenshchik.
According to calculations by Novaya Gazeta Europe, since the start of the full-scale war, Russian security forces have seized assets worth 1.8 trillion rubles from officials and lawmakers. In 2025, law enforcement seized assets worth 951 billion rubles — six times more than a year earlier — and in the first half of 2026, another 366 billion rubles.
Additional concern among entrepreneurs was sparked by a closed meeting with Putin in March. At the meeting, billionaire Suleiman Kerimov proposed that businessmen contribute to the budget. Putin supported the idea. Later, his press secretary Dmitry Peskov denied that the Kremlin had asked meeting participants to hand over money to the state. According to the Kremlin, the businessmen themselves made the initiative.