Russia’s US$13bil remittances at risk on deepening crisis


Migrant workers from the former-Soviet Union send US$13bil home each year from Russia, where they are allowed to work visa-free. But now that money is starting to dry up due to lockdowns in Moscow and St Petersburg that have halted construction projects and sapped demand for taxis.

MOSCOW: Russia’s deepening economic crisis is on the verge of spilling into some of the most remittance-dependent economies in the world.

Migrant workers from the former-Soviet Union send US$13bil home each year from Russia, where they are allowed to work visa-free.

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