Ukraine’s Former President Yanukovych Deposited Billions of USD with China

Viktor Yanukovych, Xi Jinping.

According to two independent JPR sources, Ukrainian President Viktor Yanukovych, left, deposited billions of dollars before and during his departure from Ukraine in the spring of 2014.

Journal of Political Risk, Vol. 3, No. 2, February 2015.

By Anders Corr, Ph.D

Former President of Ukraine Viktor Yanukovych has deposited billions of dollars with the Chinese, according to two independent sources available to the Journal of Political Risk.

President Yanukovych deposited approximately $1 billion USD with China on either his first or second visit to that country, according to one of the sources. Two large pallets of cash, of approximately $1 billion USD, were delivered to China through Hong Kong.

The other source, which we accessed in April 2014 on a visit to Ukraine, said that President Yanukovych transferred most of his deposits to China prior to departing the country and closing the banks with which he was associated. His bankers fled the country at that time.

When President Yanukovych fled Ukraine for Russia in February 2014, he transferred billions of dollars in a hurry. He and his family closed their four banks, according to our source. President Yanukovych’s men stuffed several vehicles full of cash, and drove them to Russia. What is reported here for the first time is that most of his estimated $32 billion in assets were wired to China, according to our source.

Former President Yanukovych denies having foreign bank accounts.

Update (3/7/2015): An email request for comment to the People’s Bank of China was not returned. The JPR was unable to reach Viktor Yanukovych for comment, though he is thought to reside in Rostov-on-Don, Russia

Anders Corr, Ph.D. is the founder and principal of Corr Analytics. JPR Status: Report, archived 2/28/2015. 

The New Face of Russia’s Relations with Brazil

Defense Minister of Brazil, Celso Amorim, receives his counterpart from Russia, Sergei Shoigu, during bilateral meeting in Brasilia.

Defense Minister of Brazil, Celso Amorim (L), receives his counterpart from Russia, Sergei Shoigu, to bilateral meeting at the Defense Ministry in Brasilia, capital of Brazil, on October 16, 2013. Shoigu’s visit included an attempt to win a $4 billion deal to supply 18 fighter jets.

Journal of Political Risk, Vol. 2, No. 5, May 2014.

By Matthew Michaelides

Abstract

Bilateral trade, high level personal communication, and military-technical relations between Russia and Brazil have all grown significantly over the past decade. Recent weapons sales to Brazil include a $150 million contract for MI-35 helicopters in 2009 and a 2012 deal for seven Ka-62 helicopters. Moreover, the Russian defense ministry has indicated its intention to increase Russian military capacity in Brazil and Latin America more broadly. This paper examines the causes for the increasing depth of Russian-Brazilian military-technical relations and concludes that informal patronage politics play an essential role in understanding Russian actions. A detailed analysis of contemporary Russian-Brazilian relations and existing theoretical perspectives is provided, as well as a thorough examination of recent Russian arms and equipment sales from the informal patronage politics perspective.

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