Russia prohibits the transfer of stock profits to accounts held by Western countries.

Russian President Vladimir Putin has stated that his country has had to take measures to reduce the withdrawal of profits of its companies’ assets to Western countries, including banning the transfer of shares’ profits to Western accounts.

In a conference for Russian industrialists and businessmen, he stated that this decision was made in order to protect the interests of our economy and businesses.

Some decisions were made due to certain illegal methods used by the West with regards to Russian assets and reserves, which is why we were forced to take appropriate measures, including those related to preventing exports. According to the Russian news agency TASS, the profits from the stocks are being transferred to Western accounts.

Putin stated that Russia’s economic indicators are gaining momentum, and it is expected that the gross domestic product will grow significantly in the second quarter of this year compared to last year.

The greatest decrease in Russia’s GDP last year was recorded in June, and I believe it was 4.7%. The reasons for this are well-known: the sanctions war, unprecedented challenges in the global economy and trade, and problems with the international system as a whole. As you know, we did not create these problems.