A new class of oligarchs could rise from Putin's seizure of Western assets, says an expert in Russian finance
Today, the Russian government — in need of funds amid sweeping international sanctions over the Ukraine war — could offload seized foreign assets to favored investors at a discount again, Malik told Insider."I think it's a real risk given Russia's history," he said.The Kremlin may also open such auctions up to foreign players, which could entice opportunistic investors eyeing a way into the market, said Malik.
"There may be players from countries where they feel relatively insulated from the threat of Western sanctions," he said. Potential investors could hail from China, India, or countries in the Middle East that have not condemned Russia's invasion of Ukraine, said Malik.is most likely to take an active role in pursuing investments in Russia, as it has more leverage in its power relations with the West than do many other countries, said Malik.
Zhang did not mention sanctions, but told business leaders the international situation was"complex," with large companies facing issues in supply chains and payments."This is a time when private, small- and medium-sized enterprises can play a role," said Zhang.Subscribe to push notificationsNOW WATCH: BILL BROWDER: How sanctions on Russia hurt Putin's closest allies
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