2 Apr, 13:06

'Cowboy money' coming into Russia — Finance Ministry

The amounts of money are very small thus far, Deputy Finance Minister Ivan Chebeskov noted

MOSCOW, April 2. /TASS/. The Russian Finance Ministry notes an inflow of what it calls "cowboy money" into the country from foreign hedge funds, Deputy Minister Ivan Chebeskov told reporters.

"We can call this 'cowboy money' from hedge funds, which despite the risks connected to the sanctions regime, is being brought in in small chunks through friendly jurisdictions. This is reflected in the dynamics of OFZ (Russian federal loan bonds - TASS) prices and the ruble exchange rate, as these small streams have slowly begun to flow in," the official said.

The amounts of money are very small thus far, Chebeskov noted. "It is impossible to estimate them now because they use friendly infrastructure to back investments," he added.

The Bank of Russia said earlier that the share of foreign investments in Russian OFZ bonds dropped to 3.9% as of March 1.

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Anti-Russian sanctions

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Yesterday, 14:11

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Yesterday, 18:02

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Yesterday, 21:32

Houthis report carrying out strikes on two military targets in Tel Aviv

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