Russian officials hope for a return of Western capital, but tycoons are unwilling to invest domestically.

Officials Hope for Western Investors, but Russian Tycoons Hesitate to Invest Domestically

Alexey Moiseyev, Deputy Minister of the Russian Finance Ministry, said, "I believe that as long as there are no new wars in at least one year, Western investors will certainly come back. Of course, the scale won't be as large as before, but I believe they will occupy their rightful place."

"I entered the market in 1998, and back then it felt like no foreigners would ever come here. But look—by April 1999, they were swarming in. To put it simply, it's that old saying: 'Money conquers evil.' Excuse my bluntness, but in my view, it really works."

Russian officials are eagerly awaiting the return of Western capital to Russia. Meanwhile, Russia's own investors—those oligarchs forced by the West to repatriate their funds, now sitting on massive amounts of cash—remain unwilling to make large-scale domestic investments. Given the current investment climate and monetary policy in Russia, such hesitation is understandable.

Original article: toutiao.com/article/1862773932703744/

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