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MPs Consider Ban on Foreign Assets to Curb Corruption
25.12.2012 23:03
MPs Consider Ban on Foreign Assets to Curb Corruption
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The Russian parliament has passed in first reading a bill limiting the list of foreign assets government officials are allowed to have.

The draft law is part of a broader drive to root out corruption at every level of power.

If signed into law, officials will have to withdraw the investment they previously made into real estate or shares of foreign companies. Yet they will still be able to set up and maintain bank accounts abroad if they claim they need it to pay for medical treatment.

The move will introduce restrictions across the board, including judges, prosecutors, law enforcement officers, cuctoms and prnitentiary staff, their spouses and underage children.

Even after you step down, it'll take three years before you may buy foreign property or securities.

437 MPs voted in favour of the bill, and only one against.

Author: Mikhail Vesely

Tags: corruption in Russia Russian parliament State Duma anti-corruption campaign  

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