Russia plans moratorium on money transfer to certain Asian countries

Certain Russian MPs initiated a moratorium on individuals sending money transfers from Russia to central Asian states. Other MPs, however, challenged this initiative, saying that it will not have positive results. The money will be sent in cash and hand delivered which will be risky, could encourage criminal activity, which will result in hiding revenues. Banks will also have their profits decreased. The new scheme of transferring money will appear through third party countries. In 2012, money transfer from Russia to the CIS countries reached $17.8 billion USD. The biggest share of this amount goes to Ukraine, Azerbaijan, Tajikistan and Uzbekistan.