The west solved that problem by effectively doing capital controls for Russia. Now that Russia has been decoupled from SWIFT, moving money out is pretty hard.

[–] CyberMonkey404@lemmy.ml 2 points 10 months ago (1 children)

From what I understand, Russian companies that are doing business with Europe and USA (such as aforementioned oil corporations) do so via direct exchange at a stock market, no swift required. Likewise, offshoring can be done via cash, precious metals, stocks or other methods

[–] yogthos@lemmy.ml 1 points 10 months ago

There are always ways to try and get money out of a country, but the west made it as difficult as possible to do so. And the result has been that money is indeed staying in Russia which resulted in a big increase in business activity as IMF now openly admits.