Russian officials have 3 months to ditch foreign bank accounts

[Bosonic]

Source: Reuters

Russian officials have until July 1 to get rid of financial assets abroad as part of President Vladimir Putin's campaign to stem corruption and capital flight, his chief of staff said on Tuesday.

Sergei Ivanov, held a rare Kremlin news conference to announce measures related to a drive to "de-offshore" the Russian economy - a term used by Putin in the first state of the nation speech of his new term last year.

Russia ranked 133rd out of 174 states in Transparency International's 2012 Corruption Perception Index. Its central bank chief said in February that almost $50 billion was sent abroad illegally last year.

Putin had signed two decrees designed to accompany legislation he submitted to parliament in February, which would bar many officials and state company executives from holding bank accounts, stocks and other financial instruments abroad, Ivanov said. "If a person has foreign accounts today, we are giving him three months to get rid of these accounts," he said.

Read more: http://www.reuters.com/article/2013/04/02/russia-corruption-idUSL5N0CP2OJ20130402

[bemildred]

1. We could do that too. nt

[valerief]

3. Bwahahahahaha! nt

[bemildred]

4. Food for thought.

[valerief]

6. I've given up hoping for any kind of justice. I'm just looking for crumbs.

The thieving pigs won't even give us that.

[bemildred]

7. Yep, it will not be given freely.

Nothing is more abject than a billionaire facing the loss of his or her money.

[pampango]

2. Cyprus will, perhaps unwillingly, also be motivating Russian to 'ditch their foreign bank accounts'.

Since some of those foreign bank accounts will be on the move now, maybe this is a good time to track them down.

[Diclotican]

5. Bosonic

Bosonic

I guess it takes one, to know one... Mr Putin and the gang around him, have for years and years kept money in foreign bank accounts and not in small amounts either - And i doubt all the talk about "corruption" is anything else than a smoke screen - as the current Administration is not unknown to corruption, and outright stealing of public founds on a grand scale..

Diclotican