During the last 10 years, eight professionals on four off Russia’s biggest loan providers – Sberbank, Alfa Financial, VTB, Gazprombank and you may VEB – taken advantage of the secrecy of your overseas financial system in order to stash wide range in distant jurisdictions, the fresh Pandora Paperwork show
Amid series regarding Western sanctions due to the fact 2014, executives from the four away from Russia’s greatest loan providers made moves so you can safeguard billions from inside the property.
A fter West nations blacklisted Russia’s biggest banking institutions responding to help you new invasion away from Ukraine, many Russians hurried to ATMs, grimly standing during the long outlines to attempt to withdraw the deals.
Some of the banks’ top executives had reduced cause to worry. They’d already drawn strategies that may help dull new perception out-of sanctions on the individual riches, based on secret records checked-out of the In the world Consortium off Investigative Reporters as part of the Pandora Papers research.