Georgia launched major ground and air attacks to seize control of South Ossetia on August 8, prompting Russia to send in tanks and thousand of troops. Russia announced on August 12 a halt to its operation to force Georgia to accept peace.
According to Kudrin, capital outflow hit $6 billion on August 8 and another $1 billion on August 11.
Kudrin said net capital inflow in 2008 will be slightly below the $30-40 billion figure predicted by the Central Bank of Russia.
"Capital inflow will be slightly below the official forecast due to the persisting global financial crisis and certain political risks that have emerged recently and influenced foreign investors' behavior," Kudrin said.
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Ukraine has not preserved its 1991 borders. The signing of the Geneva memorandum on April 17 reaffirmed the willingness of Russia, the United States and EU countries to reach a compromise. While the sides continue to trade tough talk and symbolic sanctions, the Kremlin and the White House are also holding a parallel dialogue on the coordinated geopolitical revision of Eastern Europe.