Page 75 - RusRPTJan23

5.3 FDI
Sanctioning countries accounted for over 70% of Russia’s inward FDI stock ($520bn) as of end-2021.
Countries typically serving as FDI intermediaries (e.g. Bahamas and Bermuda) accounted for 17% of Russian inward FDI. A large part of FDI from these intermediating countries is actually just Russian capital that is roundtripping through these countries for various reasons.
The share of non-sanctioning countries was only 4% in Russia’s FDI stock or $60bn as of end-2021. Among non-sanctioning countries, the largest investors have been China and members of the Commonwealth of Independent States (CIS). Turkey and certain Middle Eastern countries also account for a substantial share of FDI from non-sanctioning countries
75 RUSSIA Country Report January 2023 www.intellinews.com