Capturing encoded liquid tags

[sebastienros]

How to capture some liquid tag and rendering in html? The following code doesn't render what is expected:

{% capture r %}
{% raw %}
{% assign cultures = Culture | supported_cultures %}
<ul>item</ul>
{% endraw %}
{% endcapture %}
{{ r | escape }}

=>

{% assign cultures = Culture | supported_cultures %}
<ul>item</ul>

This is double-encoded.

Without | escape it is not encoded at all.

{% assign cultures = Culture | supported_cultures %}
<ul>item</ul>

What is the way to get

{% assign cultures = Culture | supported_cultures %}
<ul>item</ul>