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| Caucasus/Russia/Central Asia |
| Foreign investment in Russia down 21% |
| 2010-03-01 |
| [Iran Press TV Latest] Foreign investment in Russia has slumped 21 percent in 2009 to USD 81.9 billion, the country's Federal State Statistics Service (Rosstat) says. In the same period, direct foreign investment in Russia fell by 41.1 percent to USD 15.9 billion, Rosstat said in a Saturday statement. Russia's largest investor countries last year were Cyprus, followed by the Netherlands, Luxembourg and Britain, the statistics service said. Cyprus .. money laundering; Luxembourg .. money laundering; ... Foreign investors withdrew billions of dollars from Russia following the global financial downturn which hit the country hard. Meanwhile, Russia's ministry of economic development believes that the country, which saw its economy contracted by 7.9 percent in 2009, will return to growth and a 3.1-percent increase in gross domestic product in 2010. |
| Posted by:Fred |
| #5 "Foreign investment in Russia down 21%" I'm looking for my nanoviolin, really.... |
| Posted by: Barbara Skolaut 2010-03-01 21:07 |
| #4 Dubai's mafiya central for more than just money-laundering. It was AQ Khan's stomping grounds, and the main transit point for organized crime east of the Elbe |
| Posted by: lex 2010-03-01 20:06 |
| #3 2009 was a big year for screwing foreign investors in russia (BP comes to mind) Cause, meet effect. |
| Posted by: flash91 2010-03-01 15:54 |
| #2 Luxembourg has had a discreet banking system in place for decades and is geared toward 'offshore accounts'. A law supposedly aimed at combating money laundering was enacted in 1992. Doesn't mean that money going to Russia hasn't been.. recycled. And lex is right - Dubai's a gray-market area for money transactions |
| Posted by: Pappy 2010-03-01 15:39 |
| #1 Cyprus money is neither foreign nor laundered. In the early days of the post-Soviet era, every Russian company that issued any kind of public securities needed a Cyprus entity to clear trades because of the weaknesses in Russian securities legislation. The main laundering destinations for illicit Russian activity are Switzerland and Dubai. |
| Posted by: lex 2010-03-01 10:04 |