The country of 8.6 million inhabitants has long been attractive to wealthy Russians, lured by the discretion and light regulation it offers. While data from the Basel-based Bank for International Settlements shows that Russian residents and businesses held $11 billion in Swiss bank accounts in September, more than double the roughly $5 billion in the UK, that figure underestimates the size of Russia’s wealth in the country as it does not include brokerage accounts, investments or assets held through offshore companies.

This post Swiss banks hold more than $200 billion in Russian cash

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