Where does Russian oligarchs' money hide?

In a 2020 report, they reported that 1/4 of this figure was checked directly by President Vladimir Putin and his close partners known as oligarchs.

This money can be used by the Kremlin for spying, terrorism, bribery, political manipulation, deinformation and many other malicious purposes”, the report says.

How do Russian oligarchs make money?

Another report American National Endowment for Democracy accuses Putin of encouraging his oligarchs to steal from the state budget, impose fines on private businesses, and orchestrase monopolising lucrative industries”.

Where is the money hiding?

Historically, many of the dirty money of the Russian oligarchs has been hidden from Cyprus as a result of the favourable tax system.

According to Atlantic Council, this money is transferred by guaca companies, called CHAguake, after aiming to hide the real owner by placing layer after layer in legal records.

British territory like the Virgin Islands or the Cayman Islands is also known as favourable destinations to hide money known differently as fiscal Paradise.

Another way this money is stored is by financial capitals, such as New York and London, where they are invested taking back rich profits.

The anticorruption Oragniza Transparency International has declared that at least $2 billion of Russian oligarchs are hidden through imobilar property in London.

The most common way these oligarchs hide their money is through guacca companies.

These oligarchs employ the world's best lawyers, bankers and lobbyists in order to compile illegal “method of how they can launder money or hide it.

A skilled oligarch has layers of shell companies that hide its property.

Panama Papers' report in 2016 showed how a single company had created over 2,071 shell companies for various Russian richs.

Who are 10 Russian mega-togarks and where are their money invested?

The richest Russian citizens are said to have lost more than $338 billion during 2022 as a result of West sanctions against Ukraine's Russian occupation.

Together, 10 largest Russian oligarchs have a fortune of $1186 billion, which can be compared to companies like McDonald's.

Metalls, Art Works, Luxury, and Sports

These are some of the main industries where Russian oligarchs have invested their money.

The richest Russia, Vladimir Potan, has 35% share of the Nornickel company.

This is the world's largest company for production of palladium metal used in the auto industry, and niel a essential metal in the production of EV batteries and renewable energy. /Euronews