Thursday, April 2, 2015

"The majority of ultra rich Russians, who in some way may have something to fear have, a long time ago, prepared spare airfields and put in place plans for a quick emigration or, God forbid, evacuation of their family"

Alexei Koval

Said : Alexei Koval, operations director at City Magazine, which offers lifestyle and investment tips to "successful people" in Russia's main cities, reported a Moscow Times report of March 29.

According to the report "Russia's Super-rich Stay Loyal to Putin Despite Ruble Crisis Blow," wealthy Russians have resorted to self imposed modesty by cutting down their visible spendings on luxurious life style items e.g. cars,  jewellery, leisure holidaying overseas, ostentatious celebrity parties, etc. 

President Vladimir Putin has repeatedly appealed to leading businessmen to bring their money from offshore accounts back to Russia warning them about the possibility of West expanding the sanctions over Ukraine which will close off the inflows further.

The report highlights the fact that Russia's super-rich are feeling the pinch from the economic crisis but they have so far remained loyal to Putin.

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