Russia’s richest businessmen moved billions of dollars out of the country over the past year. They are investing in crypto and foreign real estate, Bloomberg reports

Russia’s richest businessmen moved billions of dollars out of the country over the past year. They are investing in crypto and foreign real estate, Bloomberg reports

Several of Russia’s richest businessmen have moved billions of dollars out of the country over the past year amid growing concern about the state of the country’s economy and the government budget.

According to Bloomberg, the businessmen, including some close to Russian President Vladimir Putin, fear that their assets could be seized and that the state will increase pressure on them to finance the war.

According to the outlet’s sources, over the past year the wealthiest businessmen have revised their investment portfolios in favor of investments in cryptocurrency, gold, and real estate abroad.

@meduzalive