FDI in Russia lowest since 1994

RUSSIA / FSU POLITICS - In Brief 21 Jan 2021 by Alex Teddy
On January 19 the Russian Central Bank (CBR) published statistics showing that foreign investment in 2020 was the lowest in 26 years. There was only USD 1.4 billion of FDI in 2020. That is partly owing to coronavirus. FDI in 2019 was USD 29 billion.However, the long-term pattern on FDI in Russia is worrying. There are a lot of offshore investments. The IMF estimates that 60% of FDI into Russia is from shell companies. That is a higher % than any other large economy. The true origin of FDI is often obscure. Much FDI is via Cyprus due to its low tax regime. It is probable that much of this FDI is in fact Russian via overseas holding companies.The CBR noted that Russia's current account surplus was half in 2020 of what it had been in 2019. It is USD 32.5 billion.

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