Wealthy Russians are reallocating capital toward crypto and foreign property, leaving markets bare and raising questions about the future viability of Russia’s financial system.

The wealthiest people in Russia are actively reconfiguring their investment portfolios: preference is given to cryptocurrency, real estate abroad, and private investment funds. These changes are taking place against a backdrop of a deteriorating outlook for the country’s future economic trajectory.

According to the Ukrainian Foreign Intelligence Service, the state of the Russian stock market indicates a prolonged decline: quotes continue to fall, and the trend of moving assets out of the country signals growing uncertainty about the future of the financial…