War in Ukraine: 15,000 oligarchs and millionaires are preparing to leave Russia, a street in Monaco to be expected?
They see their future away from Russia. While dozens of oligarchs’ assets have seen their assets frozen or even sequestered by the sanctions of the rewarded countries, Russians who are among the wealthiest are also preparing to leave the country of Vladimir Putin.
According to a study by Henlet & Partners, a London company specializing in the expatriation of large fortunes, but also the English secret services, 15,000 Russian oligarchs and millionaires are expected to leave the country in 2022.
According to the British Ministry of Defence, “skepticism about the war is probably also particularly strong among the business elite and the Russian oligarch community.”
Two main causes
A leak revealed by the sanctions affecting Russia? Yes, but not only. Still according to the English secret services, “motivations most likely include both personal opposition to the invasion and an intention to escape the financial impact of sanctions imposed on Russia.”
What strongly impact the Russian economy? Vladimir Putin continues to hammer home that his country “resist” face penalties. “The ominous grim outlook for the Russian economy announced in the spring has not materialized,” hammered the master of the Kremlin, Friday, June 17, before the International Economic Forum in Saint Petersburg.
“Bad Things Ahead”
The arguments put forward by Vladimir Poutine did not convince the analysts of Henlet & Partners. “Wealth migration figures are a very important indicator of the health of an economy,” esteem on CNN Andrew Amils.
“It can also be a sign of bad things to come as dollar millionaires are often the first to go… if you look at the collapse of a major country in history, it is normally reported to a migration of wealthy people away from this country.”
Street in Monaco?
Still according to the Henley & Partners study, these expatriates could find refuge in the United Arab Emirates, already highly prized by the sanctioned oligarchs for hiding their yachts there, which are threatened with freezing.
Among the other possible destinations, cited by Henlet & Partners? Singapore, Israel, Switzerland… and Monaco.