Armenia highlights concerns over illegal capital flowing to Russia

Armenian Prosecutor General Anna Vardapetyan addressed the issue of illegal capital being exported from Armenia to the Russian Federation during a meeting in Yerevan with her Russian counterpart, Igor Krasnov.

According to the department's press service, Vardapetyan underscored the importance of collaboration on this matter, Caliber.Az reports via Russian media.

She emphasized the need for concrete cooperation to ban and confiscate illegally obtained assets that have been taken from Armenia and are now in Russia, as well as addressing specific corruption cases. Vardapetyan pointed out that the bilateral nature of mutual legal assistance is essential for enhancing effective cooperation between the prosecutor's offices of both countries.

This conversation comes amid rising concerns in the region about financial misconduct. In recent months, similar discussions have taken place in various countries. For example, reports in early 2023 highlighted the arrest of several officials in Eastern Europe linked to the laundering of illicit funds through Russian entities. Additionally, the European Union has tightened regulations around asset recovery and financial transparency to combat cross-border corruption.

Furthermore, earlier this year, media outlets reported on the confiscation of millions in assets by the authorities in Ukraine, linked to corrupt practices involving Russian companies. These instances illustrate a growing recognition among countries in the region of the necessity for robust cooperation to tackle the issue of illicit capital flows.

By Tamilla Hasanova