Illegal capital outflows costs Russia $1.3 trillion

Illegal capital outflows cost Russia $1.3 trillion between 1994 and 2012 according to a study compiled by the Washington-based  Global Financial Integrity (GFI) which claims that an average of $70.6 bn, equating to 8.3% of Russia’s GDP, was ghosted out of the country each year for nearly two decades – but even more was smuggled back in.
The largest movements of capital occurred in the wake of the 2008 global financial crash the recession that followed. Between 2010 and 2012, outflows accelerated to an average of $141bn a year, hitting a peak of $174.2bn in 2011. Over the same period, however, $2 trillion was also smuggled back in.
87% of the $1.3 trillion was siphoned off  by the deliberate  misreporting of  export volume, the report claims.