Russian oligarchs have hidden vast wealth thanks to the secrecy granted by many EU countries, three experts told MEPs on the Subcommittee on Tax Matters (FISC) on Tuesday 10 May.
According to the participants in the public hearing, the assets of the oligarchs are estimated to be about half of the wealth of Russian households, with some of this being carried out through EU countries and with the services of EU-based financial intermediaries.
“Registers need to be improved for everything...