JRL NEWSWATCH: “Russia faces sharp outflow of private investment; More than $67bn shifted out of the country’s economy last year” – Financial Times/ Henry Foy

“More private money left Russia in 2018 than … since the Crimean crisis and oil market rout of 2014 …. Over $67bn … according to the … central bank …. some … attributed to fears over … U.S. sanctions and threats of more actions from Washington …. [ING’s] Dmitry Dolgin … [indicated that when] Russia’s central bank suspended foreign exchange purchases in August … [it] likely contributed to … outflows …. [A]s a percentage of Russia’s current account surplus, 2018’s outflow stands at 59 per cent, the lowest … since 2010. [Yet] “[p]ersistent capital outflows reflect acute geopolitical tensions …” said [BCS Global Markets’] Luis Saenz …. [According to the central bank, Russia’s] account surplus hit a record high of $115bn last year, thanks … to a rise in oil prices and a slump in the rouble [driving up exports].”

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