Research Update Russia Foreign Currency Ratings Cut To SD Local Currency Ratings Kept At CC All

Ratng of foregn casnos and the dfference wth Russan stes

On April 8, 2022, S& P Global Ratings downgraded its outstanding long-term and short-term foreign currency issuer ratings on Russia to 'SD/SD' from 'CC/C'. At the same time, it affirmed its long-term and short-term local currency issuer ratings on Russia at 'CC/C'. It then withdrew its ratings on Russia in light of the EU's decision on March 15 to prohibit the assignment of credit ratings to legal persons, entities and organisations established in Russia and its announcement that it would withdraw all outstanding ratings on relevant issuers by the EU-imposed deadline of April 15, 2022 (see "S& P Global Ratings to Withdraw Ratings on Russian Entities," published on March 21, 2022). As a sovereign rating (as defined in EU CRA Regulation 1060/2009, the "EU CRA Regulation"), Russia's ratings are subject to certain publication restrictions under Article 8a of the EU CRA Regulation and are published according to a pre-established calendar (see "2022 EMEA Sovereign, Regional and Local Government Rating Publication Dates Calendar," published on RatingsDirect on December 16, 2021). Under EU CRA regulations, deviations from the published calendar are permitted only in limited circumstances and must be accompanied by a detailed explanation of the reasons for the deviation. In this case, the deviation was due to Russia's payment of its Eurobond obligations in rubles on April 4.

At the time of withdrawal, the foreign currency ratings were 'SD/SD', but the local currency ratings were CreditWatch Negative, indicating a high vulnerability to non-payment of Russia's local currency debt.

CreditWatch

The downgrade of the foreign currency ratings follows the Russian government's ruble-denominated coupon and principal payments on its USD-denominated 2022 and 2042 Eurobonds, due on April 4, 2022.

Rationale

While this default could be remedied under the 30-day grace period permitted by the bond's terms, we do not expect investors to be able to convert their ruble payments into dollars of the original amount, or that the government will convert these payments within the grace period. This is because we believe sanctions against Russia are likely to be further strengthened in the coming weeks, hindering Russia's willingness and technical capacity to meet its obligations to foreign bondholders.

Our ratings reflect the Company's views on the ability and will of the issuer in accordance with debt conditions, including agreed currencies, in full and deadlines.

I understand that the Russian government's funds that have been sent to an account in Russia for debt repayment of local currency bonds (OFZ) may not be used by some or all no n-resident bond holders. However, no definitive information on the payment process has been obtained at present.

He understands that temporary exemption from US sanctions, which allows US investors to receive Russian debt payments, will expire on May 25, 2022.

Environment, society, governance principles in general standard credit rating (October 10, 2021

Related Criteria

Standards ｜ Government ｜ Soblin Soblin Rating Method (December 18, 2017)
Link method for general standard lon g-term rating and shor t-term rating (April 7, 2017)
General reference CCC+"," CCC "," CCC- "," CC "rating standards (October 1, 2012
General standards: Credit rating principles (February 16, 2011)
General reference methodology: General standards: Methods theory: Judgment of relocation / conversion possibility evaluation "May 18, 2009
Soblin rating list (April 5, 2022

Related Research

History of Sobulin Rating, April 5, 2022
S & amp; p withdrawal of Russian companies by global ratings, March 21, 2022
The rating committee has enough to understand the comparable level of knowledge and the application method (see "Related Standards and Research") in accordance with the relevant policies and procedures of our company. It was composed of analysts with experience. At the beginning of the committee, the chairman said that the information provided by the Primary Analyst was provided in a timely manner, and it was sufficient for members to make decisions based on sufficient information. I confirmed it.

After the primary analyst greeted and the recommended content, the committee discussed the main rating factors and important issues based on the relevant criteria. We examined qualitative and quantitative risk factors and discussed based on achievements and prospects. < SPAN> The Company's rating reflects the ability and intention of the issuer in accordance with debt conditions, including agreed currencies, in full and deadlines.

He understands that temporary exemption from US sanctions, which allows US investors to receive Russian debt payments, will expire on May 25, 2022.

Ratings List

|U~Environment, society, governance principles in general standard credit rating (October 10, 2021

Standards ｜ Government ｜ Soblin Soblin Rating Method (December 18, 2017)

Link method for general standard lon g-term rating and shor t-term rating (April 7, 2017)

General reference CCC+"," CCC "," CCC- "," CC "rating standards (October 1, 2012

General standards: Credit rating principles (February 16, 2011)

General reference methodology: General standards: Methods theory: Judgment of relocation / conversion possibility evaluation "May 18, 2009

Soblin rating list (April 5, 2022

History of Sobulin Rating, April 5, 2022

Richest Countries in the World 2024

Many of the world’s richest countries are also the world’s smallest: the pandemic, the global economic slowdown and geopolitical turmoil have barely made a dent in their huge wealth.

S & amp; p withdrawal of Russian companies by global ratings, March 21, 2022

The rating committee has enough to understand the comparable level of knowledge and the application method (see "Related Standards and Research") in accordance with the relevant policies and procedures of our company. It was composed of analysts with experience. At the beginning of the committee, the chairman said that the information provided by the Primary Analyst was provided in a timely manner, and it was sufficient for members to make decisions based on sufficient information. I confirmed it.

After the primary analyst greeted and the recommended content, the committee discussed the main rating factors and important issues based on the relevant criteria. We examined qualitative and quantitative risk factors and discussed based on achievements and prospects. Our ratings reflect the Company's views on the ability and will of the issuer in accordance with debt conditions, including agreed currencies, in full and deadlines.

He understands that temporary exemption from US sanctions, which allows US investors to receive Russian debt payments, will expire on May 25, 2022.

Environment, society, governance principles in general standard credit rating (October 10, 2021

Standards ｜ Government ｜ Soblin Soblin Rating Method (December 18, 2017)

Link method for general standard lon g-term rating and shor t-term rating (April 7, 2017)

General reference CCC+"," CCC "," CCC- "," CC "rating standards (October 1, 2012

THE 10 RICHEST COUNTRIES IN THE WORLD:

10. Norway🇳🇴

Current International Dollars: 82,832 | Click To View GDP & Economic Data

General standards: Credit rating principles (February 16, 2011)

General reference methodology: General standards: Methods theory: Judgment of relocation / conversion possibility evaluation "May 18, 2009

Soblin rating list (April 5, 2022

History of Sobulin Rating, April 5, 2022

9. United States🇺🇸

Current International Dollars: 85,373 | Click To View GDP & Economic Data

S & amp; p withdrawal of Russian companies by global ratings, March 21, 2022

8. San Marino🇸🇲

Current International Dollars: 86,989 | Click To View GDP & Economic Data

The chairman has confirmed that all members with voting have given the opportunity to give their opinions. The chairman or the nominated person reviewed the draft of the report to ensure consistency with the committee's decision. The rating committee's views and decisions are summarized in the above grounds and prospects. The weighting of the ful l-rate elements is described in the methodology used in the ful l-scale decision (see "Related Standards and Survey").

No participation, no access to internal documents, no access to management. NR ... no rating.

7. Switzerland🇨🇭

Current International Dollars: 91,932 | Click To View GDP & Economic Data

The unmitted rating was started by anyone other than the issuer (defined by the S & amp; P Global Ratings). S & amp; p global ratings were started by those other than the publisher (defined by the S & amp; P global ratings policy), and based on information that is generally available, and issues. It may not be accompanied by participation, access to the internal document of the publisher, or access to management. S & amp; p global ratings use information from reliable sources based on our policies and procedures, but the accuracy, validity, and complete information used. It does not guarantee sex.

Other contact information

Sovulin and IPF EMEA; sovipf@spglobal. com < Span> confirmed that all members with voting have given the opportunity to give their opinions. The chairman or the nominated person reviewed the draft of the report to ensure consistency with the committee's decision. The rating committee's views and decisions are summarized in the above grounds and prospects. The weighting of the ful l-rate elements is described in the methodology used in the ful l-scale decision (see "Related Standards and Survey").

No participation, no access to internal documents, no access to management. NR ... no rating.

6. United Arab Emirates🇦🇪

Current International Dollars: 96,846 | Click To View GDP & Economic Data

Other contact information

5. Qatar🇶🇦

Current International Dollars: 112,283 | Click To View GDP & Economic Data

Sobipf@spglobal. com confirmed that all members with voting were given an opportunity to give their opinions. The chairman or the nominated person reviewed the draft of the report to ensure consistency with the committee's decision. The rating committee's views and decisions are summarized in the above grounds and prospects. The weighting of the ful l-rate elements is described in the methodology used in the ful l-scale decision (see "Related Standards and Survey").

No participation, no access to internal documents, no access to management. NR ... no rating.

4. Singapore🇸🇬

Current International Dollars: 133,737 | Click To View GDP & Economic Data

Other contact information

Sovulin and IPF EMEA; sovipf@spglobal. com

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3. Ireland🇮🇪

Current International Dollars: 133,895 | Click To View GDP & Economic Data

Credi t-related and other analysis, including rating, and descriptions in this content are not the opinions at the time they are expressed and are not the facts. S & amp; P's opinion, analysis, and rating certification (described later) does not recommend purchasing, holding, selling, or investing in any securities, and does not mention any securities. Standard & Pourses is not obliged to update this content even after it is published in any format or format. This content should not depend on the users, management, employees, advisors,/ and customer skills, judgments, and experience when making investment and other business decisions. It is not an alternative. S & amp; P does not play such a role unless it is registered as a trustee or investment advisor. S & amp; P has obtained information from the source that is determined to be reliable, but S & amp; P does not audit, and is obliged to perform dudylitures and unique verification regarding any information to obtain. It is not something to bear. Radin g-related publications may be issued for a variety of reasons that do not necessarily depend on the rating committee's decision. This includes regular renewal of credit rating and publication of related analysis, but not limited to these.

As long as the regulatory authorities have approved the rating issued by rating agencies for specific regulation purposes in other laws, S & amp; P is always at its own discretion. Reserve the right to transfer, withdraw, or pause such approval. S & amp; P parties have denied any obligations caused by the transfer, withdrawal, and pause of the acuna ligment, and the responsibility for any damages that have been caused by it.

S & amp; P separates specific activities of each business division in order to maintain the independence and objectivity of the activities of each business division. As a result, S & amp; p may have information that other business departments cannot be obtained. S & amp; p has a policy and procedure to maintain the confidentiality of certain private information obtained in connection with each analysis process.What do people come to mind when thinking about the richest country in the world? Also, what do you think of when you think about the smallest country in the world? Probably many people are surprising that many of the wealthy countries on earth are one of the smallest countries.Among very small and very rich countries, such as San Marino, Luxembourg, Switzerland, and Singapore, it has a sophisticated financial department and tax system, attracts foreign investment, professional human resources, and a large bank deposit. Some countries are wearing them. Like Qatar and the United Arab Emirates, some countries have a large amount of hydrocarbons and other advantageous natural resources. Glittering casinos and a large number of tourists are also convenient for business: Asian Gambling Heaven Macau has been the most wealthy in the world, despite being able to withstand intermittent blockade and pandemi c-related travel restrictions. It is one of the nations.

2. Macao SAR🇲🇴

Current International Dollars: 134,141 | Click To View GDP & Economic Data

But what does we mean when one country says "rich", especially in an era when the income gap between super wealthy and other people is growing? The Gross Domestic Product (GDP) measures the value of all goods and services produced in that country, but by dividing this production by ful l-time residents, the population of a certain country is another country. You can judge how rich or poor compared to the population. In other words, the economic scale of these countries is so unbalanced that the country's population is small.

However, it is possible to more accurately grasp the average living standards in the country, taking into account inflation rates and the cost of local products and services. The resulting numbers are called purchasing power (PPP), and are often expressed in international dollars to enable comparison between different countries.

1. Luxembourg🇱🇺

Current International Dollars: 143,743 | Click To View GDP & Economic Data

So, in a country with a particularly high PPP, should we automatically think that the whole nation is visible and wealthy than most of the world? it's not. What we deal with is the average value, and if there are structural inequality in each country, it is easy to balance in a blessed environment. < SPAN> In very small and very rich countries, such as San Marino, Luxembourg, Switzerland, and Singapore, have a sophisticated financial division and tax system, investment from foreign countries, specialized human resources, and large banks Some countries are attracting deposits. Like Qatar and the United Arab Emirates, some countries have a large amount of hydrocarbons and other advantageous natural resources. Glittering casinos and a large number of tourists are also convenient for business: Asian Gambling Heaven Macau has been the most wealthy in the world, despite being able to withstand intermittent blockade and pandemi c-related travel restrictions. It is one of the nations.

World’s Richest Countries 2024

So, in a country with a particularly high PPP, should we automatically think that the whole nation is visible and wealthy than most of the world? it's not. What we deal with is the average value, and if there are structural inequality in each country, it is easy to balance in a blessed environment. Among very small and very rich countries, such as San Marino, Luxembourg, Switzerland, and Singapore, it has a sophisticated financial department and tax system, attracts foreign investment, professional human resources, and a large bank deposit. Some countries are wearing them. Like Qatar and the United Arab Emirates, some countries have a large amount of hydrocarbons and other advantageous natural resources. Glittering casinos and a large number of tourists are also convenient for business: Asian Gambling Heaven Macau has been the most wealthy in the world, despite being able to withstand intermittent blockade and pandemi c-related travel restrictions. It is one of the nations.	But what does we mean when one country says "rich", especially in an era when the income gap between super wealthy and other people is growing? Gross domestic production (GDP) measures the value of all goods and services produced in the country, but by dividing this production by ful l-time residents, the population of a certain country is another country. You can judge how rich or poor compared to the population. In other words, the economic scale of these countries is so unbalanced that the country's population is small.	However, it is possible to more accurately grasp the average living standards in the country, taking into account inflation rates and the cost of local products and services. The resulting numbers are called purchasing power (PPP), and are often expressed in international dollars to enable comparison between different countries.
So, in a country with a particularly high PPP, should we automatically think that the whole nation is visible and wealthy than most of the world? it's not. What we deal with is the average value, and if there are structural inequality in each country, it is easy to balance in a blessed environment.	The COVID-19 pandemic has lifted the veil on these inequalities in ways no one could have predicted. Wealthy countries are often more vulnerable to coronaviruses because of their older populations and other risk factors, but they undoubtedly had the resources to provide better care to those in need. Moreover, the economic hit of the lockdown was harder on low-wage workers than on those in higher-wage occupations, creating new inequalities between those who can work comfortably from home and those who have to risk their health and safety to go to the field. People who lost their jobs because industries were completely shut down found themselves with almost no safety net, exposing gaping holes in the world's most famous welfare system.	Then, as the pandemic subsided and inflation rose globally, Russia invaded Ukraine, exacerbating the food and oil price crisis. Then came the Israel-Hamas war, bringing further disruptions to supply chains and commodity and energy markets.
Low-income groups always tend to be hit the hardest because they are forced to spend more of their income on basic necessities: housing, food, and transportation.	According to data from the International Monetary Fund, the world's 10 poorest countries have an average per capita purchasing power of less than $1, 500, while the 10 richest countries have more than $110, 000. The COVID-19 pandemic has lifted the veil on these disparities in ways no one could have predicted. While wealthier countries are often more vulnerable to the coronavirus because of older age and other risk factors, they undoubtedly had the resources to provide better care to those in need. Moreover, the economic hit of the door locks was harder for low-wage workers than for those in higher-wage occupations, creating new inequalities between workers who can work comfortably from home and those who must risk their health and safety to go to the field. People who lost their jobs as industries completely shut down found themselves with almost no safety net, exposing gaping holes in the world's most famous welfare system.	Then, as the pandemic subsided and inflation rose worldwide, Russia invaded Ukraine, exacerbating the food and oil price crisis. The Israel-Hamas war also brought further disruptions to supply chains and commodity and energy markets. Low-income groups always tend to be the hardest hit, as they are forced to spend a large proportion of their income on basic necessities: housing, food, and transportation.
According to data from the International Monetary Fund (IMF), the world's 10 poorest countries have an average per capita purchasing power of less than $1, 500, while the 10 richest countries have an average per capita purchasing power of more than $110, 000. The COVID-19 pandemic has lifted the veil on these disparities in ways no one could have predicted. Wealthy countries are often more vulnerable to coronaviruses due to older age and other risk factors, but they undoubtedly had the resources to provide better care to those in need. Moreover, the economic impact of door-locking has been more severe for low-wage workers than for those in higher-wage occupations, resulting in new inequalities between workers who can work comfortably from home and those who must risk their health and safety to go to the field. People who lost their jobs as industries completely shut down found themselves with almost no safety net, exposing gaping holes in the world's most famous welfare system.	Then, as the pandemic subsided and inflation rose worldwide, Russia invaded Ukraine, exacerbating the food and oil price crisis. Then came the Israel-Hamas war, bringing further disruptions to supply chains and commodity and energy markets.	Low-income groups always tend to be the hardest hit, as they are forced to spend more of their income on basic necessities: housing, food, and transportation.
According to data from the International Monetary Fund (IMF), the world's 10 poorest countries have an average purchasing power per capita of less than $1, 500, while the 10 richest countries have more than $110, 000.	The IMF has repeatedly warned, but it is dangerous to take this statistics. For example, many of the countries in the ranking are ta x-haven (tax avoidance), and their wealth is originally created in different places, so GDP is artificially swelling. A global agreement to guarantee that a large company would pay a minimum tax rate of 15 % was signed by more than 130 governments in 2021 (this agreement was still implemented due to the opposition of many countries and politicians in many countries. There is a criticism that this tax rate is almost less expensive than Ireland, Qatar and Macau. By the end of the 2020s, IMF estimates that about 40 % of the world's direct investment flows around the world are due to unpleasant tax evasion tactics (rising from 30 % in the 2010s). In other words, these investments pass through the shells of empty companies, and they rarely have or have no economic interests to the people who have funded.	Since the discovery of larg e-scale marine reserves in the late 1960s, Norwegian economic engines have been used as fuel. Norway, the top petroleum originating in Western Europe, has benefited from prices for decades.
Prices crashed at the beginning of 2020, and a global epidemic occurred, and Norwegian currency Crone crashed. In the second quarter of the year, Norway's GDP fell 6. 3 %, the largest in the last half century, probably since World War II.	Does this mean that the Norwegian people are no longer wealthy than before the pandemic? it's not. After the first shock, the economy gradually reduced the loss and recovered.	In addition, when an unexpected economic issue occurs, the Norwegian people can always rely on the world's largest $ 1. 4 trillion government funds. Not only that, unlike many other abundant countries, the Norwegian high GDP numbers reflect the economic happiness of the average people accurately. Norway is one of the world's smallest income gaps.
Did you say that the wealthy country is also the smallest country? Most of the last 20 years have been around 10th place, but in 2020 it was the first to be in the top 10. < SPAN> IMF has repeatedly warned, but it is dangerous to swallow this statistics. For example, many of the countries in the ranking are ta x-haven (tax avoidance), and their wealth is originally created in different places, so GDP is artificially swelling. A global agreement to guarantee that a large company would pay a minimum tax rate of 15 % was signed by more than 130 governments in 2021 (this agreement was still implemented due to the opposition of many countries and politicians in many countries. There is a criticism that this tax rate is almost less expensive than Ireland, Qatar and Macau. By the end of the 2020s, IMF estimates that about 40 % of the world's direct investment flows around the world are due to unpleasant tax evasion tactics (rising from 30 % in the 2010s). In other words, these investments pass through the shells of empty companies, and they rarely have or have no economic interests to the people who have funded.	Since the discovery of larg e-scale marine reserves in the late 1960s, Norwegian economic engines have been used as fuel. Norway, the top petroleum originating in Western Europe, has benefited from prices for decades.	Prices crashed at the beginning of 2020, and a global epidemic occurred, and Norwegian currency Crone crashed. In the second quarter of the year, Norway's GDP fell 6. 3 %, the largest in the last half century, probably since World War II.
Does this mean that the Norwegian people are no longer wealthy than before the pandemic? it's not. After the first shock, the economy gradually reduced the loss and recovered.	In addition, when an unexpected economic issue occurs, the Norwegian people can always rely on the world's largest $ 1. 4 trillion government funds. Not only that, unlike many other abundant countries, the Norwegian high GDP numbers reflect the economic happiness of the average people accurately. Norway is one of the world's smallest income gaps.	Did you say that the wealthy country is also the smallest country? Most of the last 20 years have been around 10th place, but in 2020 it was the first to be in the top 10. The IMF has repeatedly warned, but it is dangerous to take this statistics. For example, many of the countries in the ranking are ta x-haven (tax avoidance), and their wealth is originally created in different places, so GDP is artificially swelling. A global agreement to guarantee that a large company would pay a minimum tax rate of 15 % was signed by more than 130 governments in 2021 (this agreement was still implemented due to the opposition of many countries and politicians in many countries. There is a criticism that this tax rate is almost less expensive than Ireland, Qatar and Macau. By the end of the 2020s, IMF estimates that about 40 % of the world's direct investment flows around the world are due to unpleasant tax evasion tactics (rising from 30 % in the 2010s). In other words, these investments pass through the shells of empty companies, and they rarely have or have no economic interests to the people who have funded.
Since the discovery of larg e-scale marine reserves in the late 1960s, Norwegian economic engines have been used as fuel. Norway, the top petroleum originating in Western Europe, has benefited from prices for decades.	Prices crashed at the beginning of 2020, and a global epidemic occurred, and Norwegian currency Crone crashed. In the second quarter of the year, Norway's GDP fell 6. 3 %, the largest in the last half century, probably since World War II.	Does this mean that the Norwegian people are no longer wealthy than before the pandemic? it's not. After the first shock, the economy gradually reduced the loss and recovered.
In addition, when an unexpected economic issue occurs, the Norwegian people can always rely on the world's largest $ 1. 4 trillion government funds. Not only that, unlike many other abundant countries, the Norwegian high GDP numbers reflect the economic happiness of the average people accurately. Norway is one of the world's smallest income gaps.	Did you say that the wealthy country is also the smallest country? Most of the last 20 years have been around 10th place, but in 2020 it was the first to be in the top 10.	Brunei's breakthrough was at least due to the fact that pandemic (global epidemic) -related soci o-economic measures were raised in income and expenditure and the decline in energy prices.
Brunei has completely dropped out of the top 10, but then Brunei has gained momentum and continues to reign at the top of the ranking. The United States has not only experienced the shortest recession ever in early 2020, but is now booming economy. The IMF raised the US economic growth rate forecast in April and 2024 to 2. 7 % (0. 6 % higher than the forecast just a few months ago), but according to the IMF, the company's achievements this year are "major world growth. It is said that it will be the prime power.	The small San Marino is the oldest republic nation in Europe and the fifth smaller country on the map. The number of people is only 34, 000, but one of the wealthy people in the world. The income tax rate is very low, and the EU average is about on e-third. Nevertheless, San Marino is striving to harmonize the Financial Law with the European Union (EU) and international standards.	In the financial crisis and energy crisis, Switzerland showed a tremendous recovery, mainly in the tourism and manufacturing industries since the pandemic (global epidemic).
The inventions brought to the world to the world, such as white chocolate, Bobsley, Switzerland Army Knife, Computer Mouse, immersion, Velcro, and LSD. Switzerland with a population of about 8. 8 million depends on exports of many of their wealth, insurance, sightseeing, pharmaceuticals, jewelry, precious metals, precision equipment (clocks, etc.) and machinery (medical equipment, computers).	According to Credit Switzerland's 2023 Global Wealth report, the average assets per Swiss were $ 685, 230, returned to the top. In addition, about one in six adults has more than $ 1 million assets. Is it really surprising that Switzerland is the most hundreds of millions in the world? < SPAN> Brunei's breakthrough was at least due to the fact that pandemic (global epidemic) -related social economic measures were raised in income and expenditure and the decline in energy prices.	Brunei has completely dropped out of the top 10, but then Brunei has gained momentum and continues to reign at the top of the ranking. The United States has not only experienced the shortest recession ever in early 2020, but is now booming economy. The IMF raised the US economic growth rate forecast in April and 2024 to 2. 7 % (0. 6 % higher than the forecast just a few months ago), but according to the IMF, the company's achievements this year are "major world growth. It is said that it will be the prime power.
The small San Marino is the oldest republic nation in Europe and the fifth smaller country on the map. The number of people is only 34, 000, but one of the wealthy people in the world. The income tax rate is very low, and the EU average is about on e-third. Nevertheless, San Marino is striving to harmonize the Financial Law with the European Union (EU) and international standards.	In the financial crisis and energy crisis, Switzerland showed a tremendous recovery, mainly in the tourism and manufacturing industries since the pandemic (global epidemic).	The inventions brought to the world to the world, such as white chocolate, Bobsley, Switzerland Army Knife, Computer Mouse, immersion, Velcro, and LSD. Switzerland with a population of about 8. 8 million depends on exports of many of their wealth, insurance, sightseeing, pharmaceuticals, jewelry, precious metals, precision equipment (clocks, etc.) and machinery (medical equipment, computers).
According to Credit Switzerland's 2023 Global Wealth report, the average assets per Swiss were $ 685, 230, returned to the top. In addition, about one in six adults has more than $ 1 million assets. Is it really surprising that Switzerland is the most hundreds of millions in the world? Brunei's breakthrough was at least due to the fact that pandemic (global epidemic) -related soci o-economic measures boosted their income and expenditures and the decline in energy prices.	Brunei has completely dropped out of the top 10, but then Brunei has gained momentum and continues to reign at the top of the ranking. The United States has not only experienced the shortest recession ever in early 2020, but is now booming economy. The IMF raised the US economic growth rate forecast in April and 2024 to 2. 7 % (0. 6 % higher than the forecast just a few months ago), but according to the IMF, the company's achievements this year are "major world growth. It is said that it will be the prime power.	The small San Marino is the oldest republic nation in Europe and the fifth smaller country on the map. The number of people is only 34, 000, but one of the wealthy people in the world. The income tax rate is very low, and the EU average is about on e-third. Nevertheless, San Marino is striving to harmonize the Financial Law with the European Union (EU) and international standards.
In the financial crisis and energy crisis, Switzerland showed a tremendous recovery, mainly in the tourism and manufacturing industries since the pandemic (global epidemic).	The inventions brought to the world to the world, such as white chocolate, Bobsley, Switzerland Army Knife, Computer Mouse, immersion, Velcro, and LSD. Switzerland with a population of about 8. 8 million depends on exports of many of their wealth, insurance, sightseeing, pharmaceuticals, jewelry, precious metals, precision equipment (clocks, etc.) and machinery (medical equipment, computers).	According to Credit Switzerland's 2023 Global Wealth report, the average assets per Swiss were $ 685, 230, returned to the top. In addition, about one in six adults has more than $ 1 million assets. Is it really surprising that Switzerland is the most hundreds of millions in the world?
But does that mean that Switzerland can escape from economic difficulties? Not only did Pandemic have a significant impact on the economy, but Switzerland has greatly depended on the imports of oil and gas from Russia, so the Ukrainian War caused a soaring energy price and a supply chain confusion. In addition, Credit Switzerland was driven to the verge of bankruptcy in 2022, but picked up from the cliff with a lon g-standing rival UBS Group's governmen t-led relief measures. Credit Switzerland's bankruptcy shook Switzerland and hurt Switzerland's reputation as a safe and reliable global banking center.	Last year, Swiss National Bank (SNB) raised interest rates fro m-0. 75 % to 1. 75 % to suppress inflation. Such movements have resulted in a rising investment cost and slowing economic growth. On the other hand, Switzerland has already fallen into a sluggish export, especially in Switzerland's second trading partner, Switzerland, and has been sluggish to Germany, which is currently facing its own economic issue.	Once in agriculture, fisheries, and pearls were the pillars of the Economic of the Persian Gulf. However, oil was discovered in the 1950s and everything changed. Today, the international people of the United Arab Emirates are enjoying a lot of wealth. Traditional Islamic architecture and gorgeous shopping centers are mixed, and workers from all over the world are invited by ta x-exempt salaries and the sun that falls all year round.
UAE's economy is also diversifying. Other than the traditional dominant hydrocarbon category, tourism, construction, trade, and finance are the main industries. This does not mean that the UAE was not affected by the pandemic and the accompanying crude oil price. It may be incredible, but the UAE has temporarily dropped out for the first time in decades in the IMF's wealth of wealth. However, fossil fuels are not abolished. As soon as the energy prices recovered, UAE quickly recovered the world's top 10 top 10 in the world's most rich country.	Despite recent recovery, crude oil prices have fallen on average since the mi d-2010s. In 2014, the GDP per capita of the Qatar people exceeded $ 143, 222, but dropped significantly a year later, leaving $ 100, 000 for the next five years. However, this figure gradually grows and increases by about $ 10, 000 each year.	Yet Qatar's vast oil, gas and petrochemical reserves and tiny population of just 3 million have allowed this marvel of ultra-modern architecture, luxury shopping malls and fine cuisine to remain at the top of the world's richest countries for 20 years.
But no rich country is without its problems. With only about 12% of the country's residents being Qatari nationals, the early months of the pandemic saw Covid-19 spread rapidly among low-income migrant workers living in crowded quarters, triggering the region's highest positivity rate. Then, falling energy prices led to reduced government and private sector revenues. Qatar, an export-oriented economy, also suffered from disruptions to global trade caused by the Ukraine war. Then, the Gaza conflict sparked new fears and anxieties across the Middle East. Yet to date, the Qatari economy has proven resilient enough. It is expected to grow by around 2% in 2024 and 2025.	Singapore's richest man, worth about $16 billion, is an American: Facebook co-founder Eduardo Saverin left the United States in 2011 with 53 million shares of his company and became a permanent resident of the island nation. Like many other billionaires and billionaires, Saverin didn't choose Singapore just for its urban charm or natural gateway: it's a financial haven for the wealthy, with capital gains and dividends tax-free.	But why has Singapore managed to attract so many wealthy people? At the time of independence in 1965, half of the population was illiterate. With few natural resources, Singapore pulled itself up by hard work and smart policies to become one of the most business-friendly countries in the world. Today, Singapore is a thriving trade, manufacturing and financial hub, with 98% of the adult population literate.
In 2020, the economy shrank 3. 9 %, and the economy fell for the first time in more than 10 years. In 2021, the Singapore economy recovered with a growth of 8. 8 %, but later the economic deceleration in China, a major trading partner, has slowed down. China's economic issue has directly hit a manufacturing industry, which accounts for about 20 % of Singapore's entire GDP. The economic growth rate in 2023 was only 1 %, and it is not expected to grow more than 2 % in 2024 and 2025.	The Irish Republic with a population of about 5. 3 million is one of the largest hits in the financial crisis from 2008 to 9 years. As a result of politically difficult reform measures, such as a major cut in civil servant wages and the reorganization of the banking industry, Ireland regained its financial soundness, increased its employment rate, and increased the GDP per capita.	But the context is important. Ireland is the world's largest corporate tax avoidance (ta x-Haven), and multinational companies are much more beneficial than ordinary Irish people. In the mi d-2010s, many US companies such as Apple, Google, Microsoft, Meta, and Pfizer benefits from the low corporate tax rate of 12. 5 %, the most attractive in developed countries, so they are financially financed. I moved. In 2023, these multinational companies will account for nearly 50 % of the total value of the Irish economy. If Irish adopts a minimum corporate tax rate of 15 % already implemented in many countries, Ireland will lose its competitive advantage.
Furthermore, although the Irish family has become more wealthy than before, the OECD data has slightly lower than the average of the EU as a whole. There are considerable gap between the wealthy and the poor (the top 20 % income is almost 5 times the lower 20 %), and many Irish people hate the following situations. You will have a feeling.	In the world	It is one of the most rich countries in the world. < SPAN> In 2020, the economy shrank 3. 9 % and fell into a recession for the first time in more than 10 years. In 2021, the Singapore economy recovered with a growth of 8. 8 %, but later the economic deceleration in China, a major trading partner, has slowed down. China's economic issue has directly hit a manufacturing industry, which accounts for about 20 % of Singapore's entire GDP. The economic growth rate in 2023 was only 1 %, and it is not expected to grow more than 2 % in 2024 and 2025.
The Irish Republic with a population of about 5. 3 million is one of the largest hits in the financial crisis from 2008 to 9 years. As a result of politically difficult reform measures, such as a major cut in civil servant wages and the reorganization of the banking industry, Ireland regained its financial soundness, increased its employment rate, and increased the GDP per capita.	But the context is important. Ireland is the world's largest corporate tax avoidance (ta x-Haven), and multinational companies are much more beneficial than ordinary Irish people. In the mi d-2010s, many US companies such as Apple, Google, Microsoft, Meta, and Pfizer benefits from the low corporate tax rate of 12. 5 %, the most attractive in developed countries, so they are financially financed. I moved. In 2023, these multinational companies will account for nearly 50 % of the total value of the Irish economy. If Irish adopts a minimum corporate tax rate of 15 % already implemented in many countries, Ireland will lose its competitive advantage.	Furthermore, although the Irish family has become more wealthy than before, the OECD data has slightly lower than the average of the EU as a whole. There are considerable gap between the wealthy and the poor (the top 20 % income is almost 5 times the lower 20 %), and many Irish people hate the following situations. You will have a feeling.
In the world	It is one of the most rich countries in the world. In 2020, the economy shrank 3. 9 %, and the economy fell for the first time in more than 10 years. In 2021, the Singapore economy recovered with a growth of 8. 8 %, but later the economic deceleration in China, a major trading partner, has slowed down. China's economic issue has directly hit a manufacturing industry, which accounts for about 20 % of Singapore's entire GDP. The economic growth rate in 2023 was only 1 %, and it is not expected to grow more than 2 % in 2024 and 2025.	The Irish Republic with a population of about 5. 3 million is one of the largest hits in the financial crisis from 2008 to 9 years. As a result of politically difficult reform measures, such as a major cut in civil servant wages and the reorganization of the banking industry, Ireland regained its financial soundness, increased its employment rate, and increased the GDP per capita.
But the context is important. Ireland is the world's largest corporate tax avoidance (ta x-Haven), and multinational companies are much more beneficial than ordinary Irish people. In the mi d-2010s, many US companies such as Apple, Google, Microsoft, Meta, and Pfizer benefits from the low corporate tax rate of 12. 5 %, the most attractive in developed countries, so they are financially financed. I moved. In 2023, these multinational companies will account for nearly 50 % of the total value of the Irish economy. If Irish adopts a minimum corporate tax rate of 15 % already implemented in many countries, Ireland will lose its competitive advantage.	Furthermore, although the Irish family has become more wealthy than before, the OECD data has slightly lower than the average of the EU as a whole. There are considerable gap between the wealthy and the poor (the top 20 % income is almost 5 times the lower 20 %), and many Irish people hate the following situations. You will have a feeling.	In the world
It is one of the most rich countries in the world.	Until just a few years ago, many people were betting on Asia's Las Vegas in the world. It was once a colony of the Portuguese Empire, but in 2001 the game industry was liberalized and expanded wealth at a tremendous speed as a special administrative district of the People's Republic of China. More than 40 casinos spread to about 700, 000 population and about 30 square kilometers, and this narrow peninsula, located just south of Hong Kong, became a mone y-making machine.	At least until this machine begins to lose, not just making money. When Kobid was attacked, his travels stopped, and Macau dropped out of the 10th country in the most rich country rankings for a while. Since then, Macau has revived as a business. The purchasing power per capita was about $ 125, 000 in 2019, but is now even higher.
You can also visit Luxemburg's castle, beautiful rural scenery, cultural festivals and gastronomy specialty dishes. Alternatively, you can open an offshore account through a bank in Luxembourg and never step into Luxembourg again. Luxembourg is located in the center of Europe and has a lot of attractions for tourists and citizens in this country, which has nearly 670, 000 population. Luxembourg uses most of his wealth to provide better housing, medical care, and education for the people, and the people are enjoying the highest level of living in the euro area.	The global financial crisis and the pressure of reducing bank secrets by EU and OECD may have had little effect on the Luxembourg economy, but the epidemic of Coronavirus has been forced to close and work. The person lost his job. The Luxembourg economy recovered from 0. 9 % in 2020 to more than 7 % in 2021. Unfortunately, the recovery has not lasted due to high interest rates, the War of the Ukraine, and the euro economic situation. The economic growth rate in 2022 was only 1. 3 %, and in 2023 it reduced 1 % (although this year is expected to grow 1. 2 %).	Nevertheless, if the standard of living is so high, it may not be worth complaining even if economic growth is weak: Luxembourg has exceeded $ 100, 000 per capita in 2014, and has never been back since then. 。
Ranking	Country/ region	GDP per capita ($)
1	🇱🇺 Luxembourg	143, 743
2	🇲🇴 Macau Special Administrative District	134, 141
3	🇮🇪 Ireland	133, 895
4	🇸🇬Singapore	133, 737
5	🇶🇦Qatar	112, 283
6	🇦🇪United Arab Emirates	96, 846
7	🇨🇭Switzerland	91, 932
8	🇸🇲San Marino	86, 989
9	🇺🇸United States	85, 373
10	🇳🇴Norway	82, 832
11	🇬🇾Guyana	80, 137
12	🇩🇰Denmark	77, 641
13	🇧🇳Brunei Darussalam	77, 534
14	🇹🇼Taiwan	76, 858
15	🇭🇰Hong Kong SAR	75, 128
16	🇳🇱Netherlands	74, 158
17	🇮🇸Iceland	73, 784
18	🇸🇦Saudi Arabia	70, 333
19	🇦🇹Austria	69, 460
20	🇸🇪Sweden	69, 177
21	🇦🇩Andorra	69, 146
22	🇧🇪Belgium	68, 079
23	🇲🇹Malta	67, 682
24	🇩🇪Germany	67, 245
25	🇦🇺Australia	66, 627
26	🇧🇭Bahrain	62, 671
27	🇫🇮Finland	60, 851
28	🇨🇦Canada	60, 495
29	🇫🇷France	60, 339
30	🇰🇷South Korea	59, 330
31	🇬🇧United Kingdom	58, 880
32	🇨🇾Cyprus	58, 733
33	🇮🇹Italy	56, 905
34	🇮🇱Israel	55, 533
35	🇦🇼Aruba	54, 716
36	🇯🇵Japan	54, 184
37	🇳🇿New Zealand	53, 797
38	🇸🇮Slovenia	53, 287
39	🇰🇼Kuwait	52, 274
40	🇪🇸Spain	52, 012
41	🇱🇹Lithuania	50, 600
42	🇨🇿Czech Republic	50, 475
43	🇵🇱Poland	49, 060
44	🇵🇹Portugal	47, 070
45	🇧🇸The Bahamas	46, 524
46	🇭🇷Croatia	45, 702
47	🇭🇺Hungary	45, 692
48	🇪🇪Estonia	45, 122
49	🇵🇦Panama	44, 797
50	🇸🇰Slovak Republic	44, 081
51	🇹🇷Türkiye	43, 921
52	🇵🇷Puerto Rico	43, 219
53	🇷🇴Romania	43, 179
54	🇸🇨Seychelles	43, 151
55	🇱🇻Latvia	41, 730
56	🇬🇷Greece	41, 188
57	🇴🇲Oman	39, 859
58	🇲🇾Malaysia	39, 030
59	🇰🇳St. Kitts and Nevis	38, 870
60	🇷🇺Russia	38, 292
61	🇲🇻Maldives	37, 433
62	🇧🇬Bulgaria	35, 963
63	🇰🇿Kazakhstan	34, 534
64	🇹🇹Trinidad and Tobago	32, 685
65	🇲🇺Mauritius	32, 094
66	🇨🇱Chile	31, 005
67	🇺🇾Uruguay	30, 170
68	🇲🇪Montenegro	29, 696
69	🇨🇷Costa Rica	28, 558
70	🇷🇸Serbia	27, 985
71	🇦🇬Antigua and Barbuda	27, 309
72	🇩🇴Dominican Republic	27, 120
73	🇱🇾Libya	26, 456
74	🇦🇷Argentina	26, 390
75	🇲🇽Mexico	25, 963
76	🇧🇾Belarus	25, 685
77	🇬🇪Georgia	25, 248
78	🇨🇳China	25, 015
79	🇹🇭Thailand	23, 401
79	🇲🇰North Macedonia	22, 249
81	🇬🇩Grenada	21, 799
82	🇦🇲Armenia	21, 746
83	🇮🇷イラン・イスラム共和国	21, 220
84	🇧🇷ブラジル	20, 809
85	🇦🇱 アルバニア	20, 632
86	🇧🇦ボスニア・ヘルツェゴビナ	20, 623
87	🇧🇧Barbados	20, 592
88	🇧🇼Botswana	20, 097
89	🇨🇴Colombia	19, 770
90	🇹🇲Turkmenistan	19, 729
91	🇱🇨St. Lucia	19, 718
92	🇬🇦Gabon	19, 452
93	🇦🇿Azerbaijan	19, 328
94	🇻🇨St. Vincent and the Grenadines	19, 196
95	🇸🇷Suriname	18, 928
96	🇬🇶Equatorial Guinea	18, 378
97	🇲🇩Moldova	17, 902
98	🇪🇬Egypt	17, 614
99	🇫🇯Fiji	17, 403
100	🇵🇼Palau	17, 381
101	🇮🇩Indonesia	16, 861
102	🇽🇰Kosovo	16, 775
104	🇵🇪Peru	16, 631
105	🇲🇳Mongolia	16, 504
105	🇩🇿Algeria	16, 483
106	🇿🇦South Africa	16, 424
107	🇵🇾Paraguay	16, 291
108	🇧🇹Bhutan	15, 978
109	🇻🇳Vietnam	15, 470
110	🇺🇦Ukraine	15, 464
111	🇩🇲Dominica	15, 280
112	🇪🇨Ecuador	14, 485
113	🇹🇳Tunisia	13, 645
114	🇯🇲Jamaica	13, 543
115	🇸🇿Eswatini	12, 637
116	🇸🇻El Salvador	12, 561
117	🇯🇴Jordan	12, 402
118	🇵🇭Philippines	12, 192
119	🇳🇦Namibia	12, 008
120	🇮🇶Iraq	11, 937
121	🇧🇿Belize	11, 320
122	🇬🇹Guatemala	11, 006
123	🇲🇦Morocco	10, 947
124	🇺🇿Uzbekistan	10, 936
125	🇳🇷Nauru	10, 823
126	🇧🇴Bolivia	10, 693
127	🇨🇻Cabo Verde	10, 304
128	🇱🇦Lao P. D. R.	10, 242
129	🇮🇳India	10, 123
130	🇧🇩Bangladesh	9, 416
131	🇻🇪Venezuela	8, 486
132	🇰🇭Cambodia	8, 287
133	🇳🇮Nicaragua	8, 137
134	🇩🇯Djibouti	7, 707
135	🇲🇷Mauritania	7, 680
136	🇭🇳Honduras	7, 503
137	🇹🇴Tonga	7, 462
138	🇬🇭Ghana	7, 156
139	🇦🇴Angola	7, 153
140	🇰🇪Kenya	6, 976
141	🇵🇰Pakistan	6, 955
142	🇨🇮Côte d'Ivoire	6, 860
143	🇰🇬Kyrgyz Republic	6, 790
144	🇼🇸Samoa	6, 721
145	🇳🇬Nigeria	6, 340
146	🇲🇭Marshall Islands	6, 313
147	🇹🇻Tuvalu	6, 056
148	🇹🇯Tajikistan	5, 832
149	🇲🇲Myanmar	5, 203
150	🇳🇵Nepal	5, 032
151	🇨🇲Cameroon	4, 842
152	🇨🇬Republic of Congo	4, 740
153	🇫🇲Micronesia	4, 691
154	🇸🇳Senegal	4, 661
155	🇧🇯Benin	4, 558
156	🇿🇲Zambia	4, 361
157	🇸🇹São Tomé and Príncipe	4, 238
158	🇪🇹Ethiopia	4, 020
159	🇹🇱Timor-Leste	3, 767
160	🇹🇿Tanzania	3, 746
161	🇰🇮Kiribati	3, 614
162	🇵🇬Papua New Guinea	3, 534
163	🇰🇲Comoros	3, 532
164	🇸🇩Sudan	3, 443
165	🇷🇼Rwanda	3, 367
—	166	🇬🇳Guinea

3, 366

Gambling Laws in Russia Explained 2024

167

🇺🇬ウガンダ

3, 345

168

🇬🇼ギニアビサウ

3, 239

169
🇱🇸レソト
3, 227
170
🇭🇹ハイチ
3, 108
171
🇬🇲 Gambia

The Legality of Gambling in Russia

2, 993

172

🇬🇲 Zimbabwe

2, 975

173

🇻🇺 Vanuatu

2, 939

The History of Russia’s Legal Gambling Scene

174

🇹🇬 Togo

2, 911

175
🇻🇺 Burkina Faso

2, 781

176

🇲🇱 Mali

2, 714

177

🇸🇧 Solomon Islands

2, 713

The Gambling Law of 2007: Russia’s Betting Regulation

178

🇹🇩 Chad

2, 620

179

🇸🇱Sierra Leone
2, 189
180
🇸🇴Somalia

2, 062

181

🇾🇪Yemen

1, 996
182
🇲🇬Madagascar
1, 979
183

🇱🇷Liberia

1, 882

Russian Gambling Tax: Law #142-FZ

184

🇲🇼Malawi

1, 712

185

🇳🇪Niger

1, 675

186	🇲🇿Mozambique	1, 649
187	🇨🇩Democratic Republic of the Congo	1, 552
188	🇨🇫Central African Republic	1, 123
189	🇨🇫Central African Republic	1, 123
190	🇨🇫Central African Republic	1, 123
🇦🇫Afghanistan 🇪🇷Eritrea 🇱🇧Lebanon 🇱🇰Sri Lanka 🇸🇾Syria 🇵🇸West Bank and Gaza	Not applicable	Source Source: International Monetary Fund, World Economic Outlook April 2024. Figures are expressed in current international dollars, reflecting corresponding exchange rates and PPP adjustments.
This article is for informational purposes only and does not provide legal advice. Please consult an attorney with any issues or challenges.	Not applicable	Source Source: International Monetary Fund, World Economic Outlook April 2024. Figures are expressed in current international dollars, reflecting corresponding exchange rates and PPP adjustments.
The government has banned EGMs and casino gambling in the country, except in five designated gambling zones. However, bookkeepers and state lotteries are accessible throughout the country.	n/a	Look through the lens of history and legality to see why Russia's gambling laws favor some forms of gambling and severely restrict others.

Article Highlights

There are three main gambling sectors in Russia: lotteries, bookmakers, and casinos - EGMs.

In 2006, Russia banned gambling throughout the country, except in designated gambling zones: Kaliningrad, Primorye, Altai, Sochi, and Crimea.	The main legal framework on gambling in force in Russia is Federal Law No. 244-FZ.	After Federal Law 244-FZ came into force, the Russian government enacted Law 142-FZ, which taxes various gambling games, establishments and operators.	The Russo-Ukrainian war had a severe impact on the gambling industry. Ukraine revoked three licenses for online gambling by Russians.
Russia is the 14th largest gambling nation in the world, with a total winnings of $4 billion.	The legal gambling age in Russia is 18 and applies to all forms of gambling.	Online gambling is strictly prohibited in Russia. Sportsbooks are an exception, however.	The gambling industry in Russia is a highly regulated but thriving market. The Russian government considers certain areas where gambling establishments and activities are legal as "special gaming zones".
For online gambling in Russia, this classification remains illegal. However, lotteries are state-controlled, and offline sports betting is legal everywhere in the country.	Russia is not the only country in the world with complex laws behind its gambling scene.	Take a look at Singapore's extensive and complex gambling legal framework for a comparative perspective and to understand why countries govern betting differently.	State regulations have forced illegal gamblers to go underground. Between 2009 and 2011, the Prosecutor's Office of the Russian Federation uncovered 3, 900 illegal casinos and 25, 031 unlicensed lottery clubs.
Casinos and sports betting are licensed, while bingo and lotteries are under direct state control and monopoly. This makes Russia one of the strictest countries in the world when it comes to gambling.	Before we go any further, let's take a step back and briefly review the long history of gambling in Russia, which began centuries ago.	The Russian gambling scene began in the 18th century as a pastime for the nobility.	Gambling centers flourished throughout the country, and in the 19th century, they penetrated different social classes.

However, after the Socialist Revolution, gambling became frowned upon in Russia. So the government issued a decree to close all gambling except for:

Lotteries, which brought in revenue for the regime

Horse racing, which was used by the "Red Army" to breed horses for its troops.

Legal Gambling in Russia’s Five Zones

After the collapse of the Soviet Union in 1991, coupled with the lack of a proper legal framework, gambling in Russia flourished again.

Horse racing was one of the most essential forms of gambling that influenced not only the gambling industry, but the world as well.

For example, in Russia, betting on horses was important for mobilizing the Red Army, and in Britain horse racing was an important symbol of the country's royalty and class system.

In 2006, there were 6, 300 licensed gambling establishments and 3, 000 lotteries operated by 300 companies.

While the gambling market flourished from the late 1900s to the early 2000s, gambling regulations have become a major problem for operators and players.

The collected government income was only $ 5 million to $ 7 million. In comparison, the illegal gambling hall escaped $ 300 million to $ 340 million.

Altai Republic (Siberian Coin)

In 2006, President Vladimir Putin administered a new restricted legal measure to prevent illegal gambling, called Federal Law 244-Fz, a Russian gambling law.

For the increase in illegal gambling facilities and tax evasion, the Russian government enacted the Federal Law 244-Fz on December 29, 2006.

This law has revised the individual legislation of the Russian Federation and regulates all gambling businesses.

The Gambling method enacted in 2007 prohibits the operation of casinos and EGMs in Russia, but the exception of the specified gambling zone is exceptional, and the country's official gaming zone in 2009. Recognized as.
The law gives the country with the following management and enactment permissions:
Start gambling management and organizational agreements, procedures, and restrictions.

Start gambling management and organizational agreements, procedures, and restrictions.

Kaliningrad (Yantarnaya)

Available government agencies issue licenses and permission.

Prohibition, caught, and crackdown on business violating the law.

As of 2009, the law includes the ban on casinos outside the designated area and the crackdown on bookmakers and gambling. The Russian government has also revised the law to ban all private lotteries.

Krasnaya Polyana (Sochi)

The overall purpose of Federal Law 244-Fz is to manage the gambling industry and its operation.

This movement gained the support of the media commentator for some reasons:

Protect youth from gambling problems,
Minimize the social cost of gamblin g-related issues,
Cut the relationship between organizational crime and gambling,
Protect Russian identity,
Improvement of tax system.
One of the most important reasons why Russia had to formulate a comprehensive gambling method was to manage taxation issues that the government experienced in illegal gambling activities.

In 2004, the Russian government enacted a more strict gambling taxation law to address the issue of taxation, which was the most complicated tax in the country.

With Russian law#142-Fz celebrating its sixth year, the Russian Federal Tax Law 29 Chapter 29 was enacted in 2004. Russian gambling taxes can determine their own gambling tax rates.

If you win more than $600 gambling, the operator will give you an IRS tax form. These forms will verify your total income when your tax return is processed.

Artyom-Vladivostok (Primorye)

If your winnings are more than about $5, 000, you may be subject to 31% federal income tax.

Under Law #142-FZ, the Russian government is changing the way casino operators and bookmakers are taxed.

Inland casinos must pay tax on the number of games they play, while sports betting requires them to pay tax on the number of machines and licenses they own.

The tax rate also varies depending on which region the establishment operates in. However, most federal governments apply the highest tax rate.
Type of gambling
Monthly tax (2004-2018)

Monthly tax (2019-2023)

Crimea (The Golden Coast)

EGM

₽1, 500 - ₽7, 500

₽3, 000 - ₽15, 000

Table games

₽25, 000 - ₽125, 000

₽50, 000 - ₽250, 000

Russia’s Abolished Gambling Zone: Krasnodar (Azov City)

Tote processing centres

₽25, 000 - ₽125, 000

₽50, 000 - ₽250, 000

Bookmaker processing centres

₽25, 000 - ₽125, 000

₽50, 000 - ₽250, 000

Tote betting points

₽5, 000 - ₽7, 000

₽10, 000 - ₽14, 000

Bookmaker betting points

₽5, 000 - ₽7, 000

₽10, 000 - ₽14, 000

Online gambling processing center

The State of the Russian Gambling Industry in 2023

₽2, 500, 000 - ₽3, 000, 000

Lotteries and bookmakers are obliged to contribute to professional and youth sports. Sports betting operators are important sponsors of Russian sports leagues.

The table below summarizes the beneficiaries and stakeholders of the various types of gambling in Russia.
Sector	Operation	Gambling surplus
1	Main beneficiaries	Lottery
2	State	- 10% of GGR allocated to special purpose enterprises (sports). - Tax from winnings to regional budgets.
3	- Taxes - Sports associations (donations) - Retailers (strots)	Casinos and EGMs
4	Licensed private companies (Russian and foreign investors)	- Gambling tax and winnings tax to local budgets. - Other corporate taxes
5	- Regional budgets (taxes) - Private interests (operators, investors)	Bookmakers
6	Licensed private companies (Russian and legal foreign institutions in the country)	- Gambling tax and winnings tax to local budgets. - Other corporate taxes - 5% of GGR goes to special tax (sports).
7	- Regional budgets (taxes) - Sports associations (donations, sponsors) - Private interests (operators)	Russia's comprehensive gambling law and special tax system have significantly improved the country's betting scene, especially in the five legal gambling zones.
8	Each country has its own way of taxing gamblers' winnings.	Read this article on taxing gambling winnings to learn if and how much you should report betting winnings.
9	The Russian government expanded the scope of Federal Law 244-FZ in 2009, banning all casinos from operating in the country except in five areas called "gambling zones".	All casinos in Russia's gambling zones must obtain an operating license from the Ministry of Finance and their operating lines must stay within the permitted gambling areas.
10	To own a brick-and-mortar casino, you need at least $500, 000 to $4 billion in the bank account.	Although it's costly, the casino's potential income is double the amount of investment.
11	The two main reasons for setting up the five zones are to promote tourism and attract foreign investors. The government wants to emulate a Las Vegas-style gambling destination for those interested in gambling.	Read more about Russia's special zones where gambling is legal here.
12	The Altai Republic is known as the "Coin of Siberia" because it is the only place in Siberia where gambling is legal and documented. The first and only casino in the zone is the Altai Palace Casino.	Altai Palace Casino has been operating since 2014 and is the smallest casino in Russia's gambling zones. The facility is also a hotel and resort, offering a variety of entertainment.
13	The casino offers gambling facilities such as:	50 gaming machines
In the financial crisis and energy crisis, Switzerland showed a tremendous recovery, mainly in the tourism and manufacturing industries since the pandemic (global epidemic).	15 table games.	In 2020, Russian media reported the country's plans to build a 3. 5 billion KRW casino and hotel. The media added that the casino will have about 300 slots and 100 gaming tables.
15	Kaliningrad is located in the European region of mainland Russia. The region saw its first major gambling activity in 2016 with the introduction of the Magic Crystal slot hall.	In 2017, developers built Kaliningrad's first legal casino, Sobranie. The casino spans 5. 5 hectares on the Baltic coast and is one of the largest in Europe.

The casino operators envision Sobranie as Kaliningrad's glittering gambling hub, with 14 gaming tables, 350 slot machines, a VIP section, luxury food and drinks, and premium entertainment.

The busiest area in Krasnaya Polyana is Sochi, home to the Sochi Casino and Resort. The city hosted the $21 billion 2014 Winter Olympics, the most expensive Olympic event in history.

The Sochi Casino & Resort has an area of 16. 54 hectares:

70 gambling tables
569 slot machines
2 restaurants

Lounge

Bar

Event hall

Sochi operation provides more than 1, 000 jobs and benefits citizens. Besides Sochi Casino & Resort, there are two other gambling establishments in the area: Boomerang Casino and Bonus Slots Machine Hall.

Boomerang Casino offers a variety of games for its guests. In 20 table games you can play blackjack, American roulette and Russian poker. Also, this casino has about 200 gaming machines.

On the other hand, Bonus Slots Machine Hall served as an alternative to the more affordable casinos in Sochi, to attract tourists and visitors through an easy and cheap gambling experience.
Primorye was considered the most important gambling establishment in Russia. There are supposed to be 11 casinos in this zone. In fact, the largest casino in the country is located in Vladivostok, covering an area of 620 hectares.

The first casino in Primorye is Tigris de Cristal, more than half of which is owned by Hong Kong's Summit Ascent Company. This casino is said to be the largest Chinese investment in the Russian region.

The region has seen many failed foreign projects, including a five-star Hyatt hotel. The factors behind the failure in the development of Primorye are:

Gambling Forms Available in Russia

Transportation,

Logistics,

Delays in visa-free travel for Chinese tourists.
For online gambling in Russia, this classification remains illegal. However, lotteries are state-controlled, and offline sports betting is legal everywhere in the country.
Casinos and sports betting are licensed, while bingo and lotteries are under direct state control and monopoly. This makes Russia one of the strictest countries in the world when it comes to gambling.

Crimea's gambling facilities were already under development as early as 2017 in anticipation of its approval, with a gambling area of 16. 8 hectares located on Russia's Black Sea coast.

Sports Betting

The gambling zone is the latest addition, and the head of the republic, Sergey Aksyonov, is still seeking more investors to build new gambling complexes.

The country announced plans in 2022 to build a gambling and entertainment center in Katsiveli, Crimea. Development began in early 2021, but was halted due to COVID-19.

For gamblers who prefer the fun of gambling over winnings, there are free-to-play gambling games called social casino games.

Climea waiting for the casino to be legalized can try social casino games, try their own skills, master their favorite games, and experience betting life without breaking laws and banks. Masu.	The AZOV CITY, located in the Class Nodar region, was previously Russia's largest gambling zone. There were three casinos here:
1987	However, the Class Nodar government moved the zone to Anapa in 2010, and many residents and investors supported the decision.
2016	The National Office has approved the law amendment by the Russian National Congress. As a result, Lostov was excluded from a list of gambling zones permitted in Russia.

This decision caused a conflict between the regional authorities and the landowner of the casino in Rostov. However, in 2012, Putin canceled the plan and called for the expansion of Azov City.

In 2021, a serious leak was flowing that President Putin owned the Black Sea Palace. This $ 1. 4 billion facility has casino slots and arcade machines.

The news was announced by Russian opposition leader Alexe Navalney.

Azov City's peak was after that year. Developers and investors responded quickly to the Prime Minister's expansion.

Most casino customers in Azov were surprised at the development of gambling provided by the facility. The most popular games are as follows:

Casinos

The popularity of roulette in Russia is well known and has a Russian roulette.

This game is a completely different "game" than a normal roulette, but the winning rate is much worse.

Azov City has prospered with the help of poker tournaments, exciting offers from casinos, and many music concerts held in casinos.

Unfortunately, Prime Minister Dimitri Medvedev signed an order to support Sochi's gambling zone, dissolving Azov City as one of the domestic gambling spots.

On December 31, 2018, the gambling zone was liquidated. All casinos and gambling halls were closed.

Lotteries

Despite Russia's strict gambling method, Russia is still a gambling power. Russia was ranked 14th in the top gambling, and the GGR in 2022 boasted $ 4 billion.

The following are lists of the world's top gambling countries:

15 major gambling countries around the world

Ranking
Country name
Total victory amount

America

$ 119 billion

Bingo

China

$ 70 billion

Japan

$ 50 billion

Italy

$ 200 billion

The Russian-Ukraine War: Its Effect on the Gambling Industry

England

$ 19 billion

Australia

$ 18 billion

Germany

$ 16 billion

Betting Age Restriction in Russia

Canada

$ 14 billion	France
13 billion dollars	South Korea
$ 11 billion	South Korea
$ 100 billion	South Korea

$ 6 billion

Gambling Penalties in Russia

Philippines

$ 5 billion

Russia
$ 4 billion
Netherlands
$ 3 billion

Italy, the fourth largest gambling power in 2023, believes that many of the success and stability of the betting industry are based on the strict gambling rules and regulations set by the government for the people.

In 2022, the total income of Russian sports betting companies was 879 billion.	The Sports Betting scene is expected to grow more than 173%between 2018 and 2026. At the end of the prediction, $ 613 million and about 55, 960 million are expected.
soccer	Horse racing
ice skating	Russian bookmakers started their first business in 2016. It is now becoming the most rapid gambling field.
The legal and illegal sales of the book maker industry are about 677 billion yen. However, 40%of these are estimated to be due to illegal markets.	The government monopolizes the lottery. As of 2014, private lotteries are banned, and only stat e-owned lotteries can enter the market.

The world's lottery market reached $ 10. 3 billion in 2022, and in 2021, 43. 2 % of Europe accounted for the largest share.

Two ministry supervises the operation:

Ministry of Finance (Named Sports Lot)

Ministry of Sports (stat e-owned sports lottery and naming)

Well-Known Russian Personalities Who Violated the Gambling Law

In 2015, the total Russian lottery was ¥ 13. 6 billion. 2016 was ¥ 24. 8 billion, and in 2017 it was ¥ 37 billion.

Russia has enacted the Gambling Tax Law to ensure the mutual interest between the state and business operators. This tax law imposes tariffs on gambling business activities, and the tariff is used for the budget in the Russian region.

The Russian government bans various gambling products. However, with the amendment of the gambling law, it became possible to participate in gambling games under strict monitoring.

Former Russian Prosecutors: Dmitry Urumov and Vladimir Glebov

The Russian legal gambling market is mainly composed of three categories/ sector:

Stat e-owned Lot

Casino and EGM

Head of St. Petersburg Municipal Precinct: Oleg Kalyadin

Bookmaker

Online gambling is strictly illegal in Japan, except for online sports betting through bookmakers.

Sportsbetting is the most demanding activity in Russia. Fonbet's betting company's revenue reached 20. 78 billion, and in 2022 it became the most profitable betting company in Russia.
Soccer is the most popular sport in Russia, and in 2022, about 16%of Russians 18 to 24 are betting on the sport.

Bottomline

The following is a concrete year in which sports betting has been legalized in Russia.

Year

Type of sports betting

FAQs

Land sports betting

Online sports betting

The Ministry of Finance is obliged to acquire a license to sports betting shops and outlets.

Unlike casinos that can only be operated in the special gambling zone, Lan d-based bookmakers are scattered throughout Russia.

The cheapest online gambling license in the world is Curacaseau and Anjuan, and the application cost is only $ 21, 000 to $ 25, 000.

Russian Betters can access online sportsbooks. Foreign sports betting companies and domestic sports betting companies can apply for licenses. The virtual sports book operator must have a license from the Federal Tax Bureau.

Cryptocurrencies such as bitcoin, light coins, and Ether are legal in Russia, but the Russian current gambling method does not directly specify whether cryptocurrencies can be used for gambling transactions.

In Russia, casinos at real stores have been legally operated since 1987. Casino must obtain a license from the Ministry of Finance and only operate in the specified gaming zone.
Casino already existed all over the world in the 1600s.
By exploring the world's oldest active casino history, you can see how deeply the gambling is in the culture and lifestyle of any country.
Casino was allowed to operate throughout Russia until 2006, but the Federal Law 244-Fz banned gambling infrastructure outside of gambling.
Gambling games in Russia are expected to reach $ 9. 61 million in 2022, and experts will grow to $ 19. 59 million in 2027.
The lottery, especially the lottery, is still large not only in Russia but also all over the world. The prize money earned $ 10. 3 billion in the world's online lottery market.
In Russia, Strot, a single operating company, monopolizes lotteries in a red country. Through daily sales, the company paid 17. 6 billion taxes for sports programs and cultures.
The Ministry of Finance has secured funds from the lottery to strengthen Russian physical activities:
Support for professional sports
Sports supplies at schools and sports gyms
Sport event
Russians are hooked on the lottery for the shocking jackpot reward of ₽ ₽ ₽。。。。。。。。。。。。。。。 Better can bet on Stoloto online applications.
Offshore operators and other online lotteries are illegal in Russia.
It's not surprising that the game has reached a red country because bingo has been around for about 500 years. If you are a bingo fan, Russia, whose bingo game is legal, may be perfect for you.
STOLOTO is the only operator contracted by the government to promote bingo, which can be rewarded for real money. Bingo is regarded as a kind of lottery and is legal. Bingo is also available at online sorting casinos.
Online bingo is also recognized in Russia. Stoloto runs an online bingo game called Bingo-75. However, since bingo is a game managed by the country, overseas operators are illegal.
In the 75 bingo, the 15th lottery creates a "blackout", and the winning probability is 0%. When the Coller pulls the 60th ball, the probability of a blackout card is 0. 00140.
In Russia, casinos at real stores have been legally operated since 1987. Casino must obtain a license from the Ministry of Finance and only operate in the specified gaming zone.
To achieve a blackout, you usually need to call 50-60 times out of 75 times.
The Russian Ukrainian War has influenced not only social impacts but also economic impacts and influences the gambling industry in the two countries.
The most affected is online gambling. Foreign investors have participated in the country's gambling business since 2020, when Ukraine legalized online gambling.
One of the few segments that was hardly affected by the Russian and Ukraine War is the world's online sports industry.
The economic value of the global sports industry has increased $ 2, 555 billion, and the average annual growth rate from 2022 to 2023 is 5. 2 %.
In fact, Russia has a major impact on the Ukrainian gambling industry. In the past, Ukraine's gambling policy was limited. Ukraine has developed better gambling under the influence of Russia.
As the conflict worsened, the Ukrainian lottery regulation committee (KRAIL) has stopped licensing the three online game operators represented by Russians.
Like many countries, the legal age that Russia can participate in gambling is 18 years or older. This includes lottery, sports betting, and lan d-based casinos.
Gambling type
Age conditions
lottery

18+

Sports betting

Elim Poon - Journalist, Creative Writer

Last modified: 27.08.2024

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