Several of Russia’s wealthiest businessmen have moved billions of dollars out of the country over the past year amid growing concern about the state of the economy and the federal budget, Bloomberg reports, citing informed sources.
According to the agency, the group includes entrepreneurs close to Vladimir Putin. Bloomberg’s sources say business figures fear possible asset seizures, citing the case of former Domodedovo airport owner Dmitry Kamenshchik, as well as stronger pressure from the state to help finance the war.
The agency recalls that in March, at a meeting with Putin, top businessmen were invited to donate money for the war. The Kremlin, however, said they were not asked and that the initiative came from the businessmen themselves.
Sources told the publication that over the past year, members of Russia’s richest circles have shifted their portfolios toward cryptocurrency, gold, and real estate abroad. Bloomberg notes that it is difficult to measure the scale of this unofficial capital flight precisely, especially when it moves through crypto transactions. Still, two sources familiar with the investment decisions of several billionaires said the total amounts to tens of billions of dollars and has increased compared with the previous year.
At the same time, Bloomberg says these businessmen must also take into account Western sanctions imposed on Russia over the war in Ukraine as they try to place assets beyond the Kremlin’s reach.
In that context, the agency mentions A7, a company whose listed owners include wanted Moldovan businessman Ilan Shor and the Russian state-owned bank PSB. The company handles cross-border payments using the ruble-pegged cryptocurrency A7A5. PSB previously said that in the first half of 2025, transaction volume through A7 exceeded 7.5 trillion rubles, or about 98 billion dollars in ruble equivalent.