---
title: "Capital Flight: Russian Market Crashes by 30%, Oligarchs Massively Flee to Cryptocurrency"
description: "The Russian stock market has crashed by 30%, and «Polyus» shares have lost half their value in two weeks. Ukrainian intelligence reports a mass flight of oligarchs into cryptocurrency and real estate abroad. 💸📉 #Economy #Russia #Crisis"
date: 2026-07-27T12:50:00.000Z
lang: en
url: https://xab.info/en/posts/capital-flight-russian-market-crashes-by-30-oligarchs-flee-to-cryptocurrency
tags: [russian-economy, moscow-exchange, capital-flight, gasprom, polymetal]
publisher: "XAB.info"
---

# Capital Flight: Russian Market Crashes by 30%, Oligarchs Massively Flee to Cryptocurrency

![Moscow Kremlin towers with red stars against a gray sky — symbol of the Russian state during economic crisis and capital flight into cryptocurrency](https://xab.info/media/2026/07/27/rossiyskiy-fondoviy-rynok-ruhnul-na-30-oligarhi-uhodyat-v-kriptovalyutu/rossiyskiy-fondoviy-rynok-ruhnul-na-30-oligarhi-uhodyat-v-kriptovalyutu-1.webp)

The Russian stock market is experiencing an unprecedented crisis of confidence. According to data from the Foreign Intelligence Service of Ukraine (HUR), confirmed by analytical reports, the Russian stock market has been in free fall for 19 consecutive weeks. This prolonged decline has been recorded for the first time since statistics began being kept in 1997.

The situation on the exchange is accompanied by a massive outflow of capital. Major Russian investors and wealthy citizens are changing their strategy, actively withdrawing assets from the country. Instead of Russian securities, the wealthiest residents of Russia prefer to transfer funds into cryptocurrency, foreign real estate, and private investment funds.

### Quote Collapse: From Gazprom to Polymetal

As of mid-July, the shares of the largest Russian corporations demonstrated a critical drop in value. Analysts note that since the beginning of April, the capitalization of the Russian market has decreased by approximately 30%, returning indices to 2016 levels.

The most significant losses have been recorded among the flagships of the Russian economy:

- Shares of «Gazprom» and VTB have fallen by more than 21%.

- «Nornickel» stocks have lost 24% of their value.

- «Aeroflot» has dropped by 27%.

- The MTS operator showed a decline of 28%.

An especially dramatic situation has developed around the country's largest gold mining enterprise — the company «Polyus». Over two weeks, the market value of the company plummeted by 53%, which came as a shock to investors.

### The Opportunity Cost Effect

The HUR cites a vivid example of the long-term consequences of investing in the Russian economy. If an investor had invested $1,000 in the shares of the American company Apple in 2006, today their capital would exceed $130,000. At the same time, a similar investment in «Gazprom» shares over the same period would have resulted in a loss of more than $600.

Intelligence experts believe that the desire to get rid of Russian assets indicates a complete loss of confidence in the prospects of the Russian economy.

### Crisis of State Borrowing and Budget Deficit

Problems have affected not only the private sector but also the state. The Russian Ministry of Finance was forced to cancel the placement of Federal Loan Bonds (OFZ) three times in the last month. The reason was unprofitable bids from investors who refused to buy state debt on the offered terms.

As a result, the state failed to attract the necessary funds. Reuters reports that Russia is revising budget indicators: federal expenditures and the deficit may exceed planned figures by more than a trillion rubles. Analysts link this to increased spending on military actions against Ukraine.

The Russian Ministry of Finance already forecasts that the budget deficit will exceed the planned level for at least another two years, which puts the country's financial stability at risk.