Money transfers from Russia to the Caucasus and Central Asia have increased
Russia last February of Ukraine after the invasion, the Russians made the biggest money transfers in the last ten years to accounts in Central Asia and the Caucasus. This happened against the background of hundreds of thousands of Russians leaving their country. The information was published by “RBK” portal.
Last year Russia residents to Georgia 2 billion dollars and this is the highest transfer amount since 2012. Kyrgyzstan 20The largest amount since 2005 – 2.5 billion more than dollars funds moved. RBK writes that more than 3 billion money was sent to Armenia.
14.5 billion dollars
14.5 billion transferred to Uzbekistan dollars It is twice as much as in 2021. 775 million dollars were sent to Kazakhstan from Russia.
Russia President Vladimir Putin in February The occupation of Ukraine when he gave the order, the first flow of Russians from the country began. Immediately after the start of the war, the West announced financial and trade sanctions against Moscow. This made it difficult for many Russians to work and make transactions.
Russians turned to the Caucasus and Central Asia, where they would have easy access to dollar accounts and Western technology.
In September Putin When they announced a partial mobilization for 300 thousand people, another wave of Russians left the country.
RBK last year, the most Russians to the Caucasus and Central Asia in the last five years trip says he did.
Cash remittances have also increased
Migrants also boosted cash transfers in 2022.
Millions of migrants from Central Asia and the Caucasus work in Russia and regularly send money to their families.
The occupation of Ukraine and the subsequent economic sanctions of the West caused a recession in Russia.
As a result, many migrants lost their jobs and were forced to return home, taking their money with them.
More migrants may be unemployed in 2023. As the war continues, Russia’s economy is expected to shrink for the second year in a row.
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