Russia bans foreign assets for his parliamentarians and government officials

Eurasia News

Moscow: The Russian State Duma Committee on Security and Anti-Corruption is considering the total ban on foreign assets of any kind including jewellery, trust donation and any other form of transfer of money abroad by parliamentarians and public servants (government employees), reports Dispatch News Desk (DND).

The bill will be amended to ban foreign accounts and assets for public servants. The exception will not do, even for foreign trusts.

A ban will spread to the storage of any property abroad – not only money, but also jewellery. In addition, outside of the law for MPs will all derivative financial instruments: futures, equities and options.

The State Duma will expand the circle of officials, who are forbidden to own foreign assets. The initial list will include governors and members of their families, top managers of state corporations, Attorney General, his deputies and members of the Board of Directors of the Central Bank. In addition, they will close an important loophole – asset ownership through trusts.