Seems like Russsia is moving towards restoring banking secrecy. This was published in one of the main news outlets

[uplana]

Question is how hard is it to get an account at a Russian bank as a non resident? Could be an interesting place to hide funds if it isn't a total nightmare for a foreigner to get an account.

That's a very good question, I would like to know that too please.

For example, you'd usually be able to acquire someone's else bank statement from Sberbank (largest state-backed bank conglomerate) for 15-20 thousand roubles (circa 300 USD).

this I can work with actually. How can we make it happen ?

 

[countryfree]

of course you can, but the issue is currency control, however, businesses/people in Russia, china, India and any country that has any form of foreign/hard currency control get around this by lots of methods, but the past couple of years, crypto was a popular option, specially p2p crypto, where you send whatever amount of money to the other party in local currency, exchange it for crypto (specially stablecoins), and then sell the crypto for dollars/Euros/swissfrancs and bank it offshore.

so, local money>p2p crypto>stable coins>exchange it for eur/usd>offshore bank account

there are other methods, like local exchanges (not crypto, just regular money exchanges, something like western union but local). in these cases, these exchanges have some sort of relationships with western banks, and all you have to do, is you send them the money in local currency, and they transfer the same amount in usd/euro/whatever from their bank accounts overseas to your offshore bank account.

So, yeah, it's not THAT hard, it just requires you to plan carefully and that's it. if there's a will, there's a way.

Yes, there's currency control, so you have to plan, and that takes time... Cost of transaction may also be substantial. Also, from my experience, Russia is for Russians. As I'm not Russian, I would never feel comfortable having my money in that country.

 

[csp dubai]

ok but i not think for some one not is russia is so easy to info about you , i personallly have account in belarus in priorbank, no crs, and i am sure is quite difficult to get any info out , even for them is b not so easy access their crm

 

[uplana]

ok but i not think for some one not is russia is so easy to info about you , i personallly have account in belarus in priorbank, no crs, and i am sure is quite difficult to get any info out , even for them is b not so easy access their crm

I agree. Russia seems to be the only country in this entire world that have the balls to go against the EU and USA - we need such countries, why China isn't following Russia a little more.

 

[EuroKiss]

I agree. Russia seems to be the only country in this entire world that have the balls to go against the EU and USA - we need such countries, why China isn't following Russia a little more.

They need a strong dollar to keep the yuan low - otherwise all their economical strategy will collapse.

 

[csp dubai]

china export too much to us , but how long ? soon the usd will be toilet paper, anybody has news more on this russian law?

 

[EuroKiss]

china export too much to us , but how long ? soon the usd will be toilet paper, anybody has news more on this russian law?

China subsides the dollar hence the American financial Ponzi schema. They can take the carpet out from the Uncle Sam feet whenever they want, but they would damage their own export capacity. They could switch to some crypto in spite of dollar, but again they are not willing to emasculate their major customer.
In the case of Russia, they can simply switch to any other currency including their own, and if they obligate oil and gas customers to pay in rubles they could get a very strong currency - but again, they would be affected in the military export, a Sukhoi or a Mig are way cheaper than a Rafal or an F-35.