Russia bill bans officials to possess foreign assets

Russian State Duma, or lower house of the parliament, Wednesday passed a bill obliging high-ranking officials and state servants to close their bank accounts outside Russia.

The bill banned possession of foreign assets for an extended list of state servants, including those working on top positions in the Central Bank, Prosecutor's office, regional administrations, state-owned corporations and other federal institutions, said Duma on its website.

State Duma also banned judges, career military personnel, employees of investigative committees, Interior Ministry, tax and customs services and municipal heads from possession of foreign assets.

The bill similarly applied to any candidate in any elections in the country down to the local level.

The bill demanded members of the parliament to give up assets held abroad by themselves, as well as by their spouses and under- aged children.

Further, it demanded the owners of foreign property to disclose the source of incomes for acquiring the property.

"This is an anti-corruption as well as an ethically just bill," Duma deputy chairman Vladimir Vasilyev told reporters.

He added that a state servant must invest in his own country's economy, not in economy of foreign countries.

After the law comes into force, officials are required to turn over their foreign accounts, shares, bonds and other financial tools to Russian banks within three months. Otherwise, they will have to abandon their jobs.

Last week, sources in the State Duma said dozens of legislators allegedly divorced with their spouses hastily in anticipation of the legislative amendments to protect their foreign assets and escape high taxation.

The bill must be signed by President Vladimir Putin before coming into force.

《Russia bill bans officials to possess foreign assets》永久阅读地址: http://91kudian.com/yingyu/17493/