Russian historical epic Viking to be released in Italy, UKSociety & Culture March 30, 2:11
Putin visits ice cave during Arctic tourSociety & Culture March 30, 0:02
Putin orders Defense Ministry and FSB to ensure protection of Russia’s interests in ArcticMilitary & Defense March 29, 21:46
Kiev aware of few chances to win in debt lawsuit case — envoyBusiness & Economy March 29, 20:52
Russian top diplomat dismisses claims about human rights violations in Crimea as liesRussian Politics & Diplomacy March 29, 20:23
Moscow suspects Jabhat al-Nusra could be used to topple AssadRussian Politics & Diplomacy March 29, 19:58
Lavrov reiterates there are no facts substantiating Iran’s links to terroristsRussian Politics & Diplomacy March 29, 19:40
Russia to upgrade helicopter protection system based on Syrian experienceMilitary & Defense March 29, 19:00
Lavrov says Ukrainian president wants to bury Minsk agreementsRussian Politics & Diplomacy March 29, 18:57
BERLIN, April 10. /ITAR-TASS/. The capital outflow from Russia is not related to Ukraine events, but caused mainly by the ruble exchange rate, Russian First Vice-Premier Igor Shuvalov told reporters on Thursday in Berlin, where he participated in the international Eastern Forum.
"The capital outflow is not related to Crimea. The main cause is the change of the rouble rate against the main reserve currencies the dollar and the euro," Shuvalov said. "Many who saw the rate changing had a possibility to change roubles for dollars and euros." It was not money that had gone out of the country. It was just transferred from rouble accounts to currency ones, he added.
As the rate does not change now, and the situation in Ukraine is not developing into worse, reverse movement is seen from foreign currencies to roubles. "Therefore, no moves must be taken. We should behave calm," he concluded.
According to Bank of Russia, banks and companies transferred a total of $50.6 billion from Russia in the first quarter of 2014, 1.8 times more than during the same period in 2013.
Presidential aide Andrei Belousov said in late March that the capital outflow from Russia could amount to $60-80 billion over 2014, and $100 billion with Central Bank interventions taken into account. He explained that intervention money directly went out in a capital outflow from the country.
Deputy Economic Development Minister Andrei Klepach said earlier that the capital outflow was forecast at $100 billion for 2014.
About $68 billion might be brought from the country in the first quarter of this year, and the outflow might almost stop at the second quarter, as it traditionally happened during the season, and continue in the third and fourth quarters, but in less amounts, he said.