Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

$13Bln to Leave in Second Half of '03

LONDON -- Russia fears a big capital flight in the second half of the year after the arrest of the boss of oil giant Yukos, the Central Bank's deputy chairman said in a newspaper interview Saturday.

Oleg Vyugin told the Financial Times he expected a net private capital flight of more than $13 billion in the last six months of the year, compared to a net $4.6 billion inflow in the first half.

"The first and second halves of the year could not have been more different," Vyugin was quoted as saying, adding that he could not definitively link the feared capital flight to the arrest of former Yukos chief Mikhail Khodorkovsky.

He said net private capital outflow was $7.7 billion in the third quarter of the year and the bank estimated it would reach $8.6 billion for the full year.

Khodorkovsky, the country's richest man, was seized by the security forces on Oct. 25 and is in jail charged with fraud and tax evasion.

The head of the country's markets watchdog on Friday urged foreign investors to keep faith in the country and President Vladimir Putin embarked on a European tour to calm frayed nerves.

"Our aim is not to go after specific individuals but to establish order in our country," Putin said Thursday.

"We will do so in a consistent and tough fashion without regard to whatever attempts these people may make to defend themselves or even resort to blackmail."