Economist comments on London-based Russian oligarchs’ fortunes

Russian oligarchs are exporting cosmic sums from Russia, namely, billions of dollars. They draw these sums out of the government coffers and flee to London, Yury Pronko, an economic observer for Tsargrad television channel, said on the Sukhoi Ostatok show he hosts.

According to him, such billionaires have dual or triple citizenship and export cash from Russia, mainly to the UK, less often to France and Switzerland.

Russians are second after the Chinese among the buyers of the so-called golden visas — a permanent residence permit offered to a foreigner in exchange for investment in a particular sector of the local economy.

According to Yury Pronko, the only thing that keeps these people from leaving Russia for good is their elite status at home — something they have earned either by selling commodities to foreign customers, or by feeding off the state budget.

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