The Ministry of Finance reported on the influx of "cowboy money" in the Russian Federation from foreigners

The Ministry of Finance of the Russian Federation notes a small influx of "cowboy money" from foreign hedge funds into the Russian market. This was announced on April 2 by Deputy Finance Minister Ivan Chebeskov on the sidelines of the Strategic Session of the Financial Market forum.

"This is the so-called cowboy money of hedge funds, which risk even the sanctions regime in order to raise small amounts of money through friendly jurisdictions. This can be seen from the dynamics of prices for OFZ (federal loan bonds. — Ed.) and the dynamics of the ruble exchange rate, that some such streams are slowly starting to enter," he said, quoted by TASS.

However, as Chebeskov noted, at the moment the volume of such investments remains insignificant. The Deputy minister added that at the moment it is difficult to determine the total volume of attracted investments from such investors.

Sanctions phenomenon: Russia will enshrine in law the seizure of foreign assets

Such changes have been agreed upon by the relevant agencies - how will the mechanism differ from the current one?

Earlier, on March 7, Sergey Zainullin, professor of the Department of Advertising at Synergy University, said that it is not recommended to keep more than 10% of savings in foreign currency. As an alternative, the expert pointed to the possibility of buying the currency of neutral countries. This can be, for example, the Hong Kong dollar and the UAE dirhams. At the same time, Zainullin pointed out the risks that arise when buying various foreign currencies. For example, transactions with dollars and euros are risky due to anti-Russian sanctions.