Nervous Ukrainian money en route to New York’s safe haven

They are not just focusing on New York, but New York is the strongest center,” said Edward Mermelstein, a Ukrainian-born lawyer who helps wealthy Eastern Europeans invest in New York real estate. “In the media, the city is always portrayed as the safest bet. It also has prestige.”

Mermelstein said he has been speaking with clients on an hourly basis in recent weeks, which is more often than usual. Most of the callers were not from Russia or Ukraine, but from countries like Azerbaijan, Kazakhstan or Uzbekistan.