Some of Russia's richest individuals, including figures close to President Vladimir Putin, have moved billions of dollars out of the country over the past year, shifting their wealth into cryptocurrency, gold, foreign real estate and private investment funds, particularly in the Gulf states.
A conservative estimate places unrecorded capital flight from Russia at tens of billions of dollars so far in 2026, with popular destinations including Cyprus, Turkey and Monaco. The exodus has been driven by high-profile state seizures of private assets that have intensified fears among the elite. Prosecutors secured the return of more than 4 trillion rubles ($51.5 billion) in assets to the state last year, targeting tycoons such as Vadim Moshkovich, Konstantin Strukov and Dmitry Kamenshchik.
Authorities have increasingly pursued businessmen linked to the West or holding dual citizenship. Meanwhile, the A7A5 stablecoin, developed by a payments firm tied to Promsvyazbank, is being used to move wealth offshore.