As the Russian economy improves, First Deputy Premier Anatoly Chubais told a June 9 press conference, more Russians are bringing money back from abroad to participate in its growth, Interfax reported. In 1994, Russian money accounted for only 10 to 15 percent of investments in the country; now, it accounts for 50 to 60 percent, Chubais said. Much of that consists of funds that were exported illegally. Chubais said that portfolio investment in Russia was now up to $200 million a month, up from $85 million in March. The current rate is equal to that before Yeltsin sent troops into Chechnya in December 1994. Such investments will allow Moscow to “force the dollar out of all sectors of the Russian economy,” Chubais said.
Duma Rejects Production Sharing Arrangement for Petroleum Industry.