$20-25 Billion Illegally Exported from Russia Every Year

$20-25 billion are illegally exported from Russia every year as it was announced at a Friday coordination conference of the Russian law enforcement chiefs. It was also stated that the situation is caused by imperfect laws on banking and customs. The law enforcement chiefs issued a statement that will be forwarded to the Russsian President and the State Duma. According to the Interior Ministry's Information, only over the last 5 years the Bank of Russia extended permanent loans to more than 50 large debtors, including Tokobank and Natsionalny Kredit banks and also to the infamous pyramid – AO MMM. The amount of damages is estimated at 4,7 billion rubles (over $164 million). A considerable part of these funds were invested into foreign economies and offshore zones – mainly into Cyprus, where approximatelt $12 billion from Russia is laundered annually.