Chairman of Russia’s Accounts Chamber Alexei Kudrin described the arrest of US investor Michael Calvey as a “shock to the economy,” speaking at the St. Petersburg Economic Forum on Thursday.
«As you remember, I described the situation with Michael Calvey as a shock to the economy and of course it is a shock. Since the beginning of this year, capital flight has doubled and is now more than US $40... Еще billion since the beginning of the year,” said Kudrin.
Calvey was arrested in February, accused of defrauding a Russian bank of billions of rubles.
The annual St. Petersburg International Economic Forum runs from Wednesday until Saturday.
The forum brings together the heads of international organisations, well-known public figures, leading academics, experts and the media.