Since the start of the war, Russia has imported about $2.3 billion in US and European banknotes, according to customs data reviewed by Reuters, Meduza writes. Before the war, Russia imported much more currency. The sharpest increase in imports was noted shortly before the Russian invasion of Ukraine – from November 2021 to February 2022, Russia imported banknotes worth $18.9 billion. In March 2022, the US and EU banned the export of their currencies to Russia. Customs data from March 2022 to December 2023 reviewed by Reuters show that during this period, cash was imported from countries that did not impose restrictions on trade with Russia – such as the UAE and Turkey. Moreover, in more than half of the cases, the country of origin of the money was not indicated in customs records, Reuters notes. During the same period, much less was exported from Russia – about $98 million in banknotes, according to customs data. Reuters named Aero-Trade as the largest declarant of imported currency, having registered 73 shipments worth $20 million each. Reuters was unable to establish the source and destination of the money. Aero-Trade owner Artem Martynyuk questioned the authenticity of customs records and declined to comment. The company said in a statement that Aero-Trade does not supply currency to Russia. Customs data shows that one of the shipments, worth 20 million euros, was imported in February 2023 by Yves Rocher Vostok. Parent company Groupe Rocher in France said neither it nor its subsidiary had any ties to Aero-Trade or attempted to circumvent sanctions to import currency into Russia. More than a quarter of the banknotes were imported by banks, according to customs records and a source familiar with the transactions. Most of the money was used to pay for precious metals. Among other major importers of cash, Reuters names enterprises controlled by the state corporation Rostec (which ones are not specified). Read RusDelfi wherever it is convenient for you. Follow us on Facebook, Telegram, Instagram and even TikTok.
