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Law on liability for aiding West’s sanctions is dangerous for Russian economy — ombudsman

May 25, 20:15 UTC+3 MOSCOW

An ombudsman believes the draft law on criminal liability for aiding Western sanctions on Russian soil is dangerous for the national economy

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MOSCOW, May 25. /TASS/. The draft law on criminal liability for aiding Western sanctions on Russian soil is dangerous for the national economy and can have a negative impact on its growth, business ombudsman Boris Titov said in an interview with TASS at the St. Petersburg International Economic Forum 2018 on Friday.

"It is a very dangerous law, it can lead to a drastic, negative impact on the growth of the economy in the country, because it will concern financial institutions that can really get under criminal prosecution, if the law is adopted in the form it is now," Titov said. According to him, the government should adopt a law that does not harm business and economy, or should not adopt any law at all.

"We are against such laws, in principle, we believe that they do not even have to be adopted, but there was a discussion in the State Duma, it was postponed until June, and we hope that it will be adopted either in the form in which it will really fulfill its main function, rather than create risks, or it won’t be adopted," the ombudsman said.

On May 14, the draft bill on criminal liability for aiding Western sanctions in Russia was introduced by the Speakers of the State Duma and the Federation Council (two chambers of the Russian parliament) Vyacheslav Volodin and Valentina Matvienko, as well as the leaders of all parliamentary factions.

On May 17, the State Duma postponed consideration of this bill in the second and main reading until June in order to hold consultations with business first.

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