HL Deb 10 February 1994 vol 551 c130WA
Lord Kennet

asked Her Majesty's Government:

What steps are being taken by the Group of Seven, and to their knowledge by others (including the Swiss Government) to control the unlawful "flight of capital" from Russia which has recently been estimated to exceed 1 billion dollars a month.

Baroness Chalker of Wallasey

The primary cause of capital flight from Russia is the unstable economic environment, including high inflation. Our efforts, and those of our partners, are therefore concentrated on promoting and supporting economic stabilisation and reform, in order to remove the incentive to take capital out of Russia.