“To defend his elites, the Russian president also announced a capital amnesty programme to incentivize wealthy Russians to repatriate their overseas assets. It is estimated that $200 billion in financial assets are held in offshore tax heavens, which constitutes 60% of Russia´s overall wealth. A ‘de-offshorization’ law, passed in 2014 before sanctions to encourage repatriation, had limited success among Russian tycoons, but under threat of blacklisting, they seem to be looking for new ways to bring cash home.”

Read more: https://globalriskinsights.com/2018/01/us-blacklist-oligarchs-russia-impact/

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