Disclosure of the "safe haven" for the wealthy of Russia .. yachts, resorts and money in suitcases

Scheherazade's yacht has been moored at the waterfront in the small Italian town of Marina di Carrara since September.

A report published by the Wall Street Journal revealed that the country has become a safe haven for the Russian oligarchs, especially in light of the sanctions imposed by Western countries on Russian President Vladimir Putin, the wealthy close to him.

The report pointed out that the sanctions and restrictions imposed on Russian capital owners pushed them to search for safe havens for their money and assets, whether luxury real estate, yachts, or even money.

The newspaper reported that many Russian oligarchs began heading to Turkey with their yachts, especially those who are rich working in the field of technology, as they travel with bags of money.

The report explains the role played by Turkey in the Ukrainian crisis. It opposes the invasion of Ukraine and Kyiv has sold weapons. It seeks to mediate between the two countries. Ankara also opposes imposing sanctions on Russia, which may protect the Turkish economy from the economic repercussions of the war.

Since Moscow began its war on Ukraine last February, thousands of Russians have traveled to Turkey where they can still fly directly there, heading to Istanbul or coastal resort areas like Antalya, and some of these cities have become permanent homes for each other.

According to Turkish and Russian sources who spoke to the newspaper, the Russians use a variety of means to bypass Western sanctions, and Russian money transfer companies operating in Turkey are used, in addition to transferring using cryptocurrencies, or even carrying cash and transporting it through airports.

The Turkish government had stated that it "will not stop the flow of Russian money, even from the oligarchy, as long as the money is legal."

Turkish Foreign Minister Mevlut Cavusoglu said at an international conference on March 26 that the Russian oligarch "can do any business in Turkey, if it is legal, and does not violate international law. If it violates international law, this is another story."

Turkey needs foreign currency to support its economy and its currency, which has lost about 45 percent of its value against the dollar in less than three months, according to the newspaper.

The report notes that the United States was silent about the Russian oligarchy's transfer of their money to Turkey, but praised Ankara's role in hosting the Russian-Ukrainian peace talks.

The Turkish Central Bank was able to obtain about three billion dollars in two days last March, as a result of swaps with local banks.

The Turkish economist, Omer Cengal, told the newspaper that these funds "most likely include the deposits of the Russians, as this money flowed to local Turkish banks, and these banks transferred it to the Central Bank through swap deals," noting that the Russians see Turkey as a safe haven.

Western countries have increased their economic sanctions against Russian President Vladimir Putin and those close to him and the Russian economy since the beginning of the Ukrainian crisis, by imposing a flight ban, freezing the assets of Russian individuals and companies, banning a number of commercial and financial transactions, and imposing restrictions on the Russian oil and gas sector, according to a previous report by Agence France-Presse. Press.

Western countries focus on imposing most of their sanctions in Russia on the financial sector with the aim of limiting Russia's financing capabilities for the war.

Many well-known figures in Russia are subject to sanctions, including 350 deputies, and close associates of the Russian president, including Russian Prime Minister Mikhail Mishustin, Russian Foreign Minister Sergei Lavrov, in addition to Vladimir Putin himself.

These sanctions also target many Russian businessmen, such as Roman Abrahamovich, owner of the English club "Chelsea", which offered it for sale, and Igor Sechin, director of the oil group "Rosneft".

Washington has established a cell of investigators responsible for initiating actions against the "corrupt Russian oligarchy" as well as anyone who violates sanctions.

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