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Putin: Transfer of public utility management companies to offshores impermissible

According to Russia's president, even those countries, which had previously supported the offshore zones, have come to the idea of deoffshorization

Russian President Vladimir Putin ITAR-TASS/Denis Vyshynsky

Russian President Vladimir Putin

© ITAR-TASS/Denis Vyshynsky

MOSCOW, December 05, 16:47 /ITAR-TASS/. The management companies in the housing and public utilities sector should be not registered in the offshore zones, Russian President Vladimir Putin said at the All-Russia People’s Front (ONF) forum here on Thursday.

“The transfer of the management companies to the offshore zones is absolutely impermissible,” the president said at a forum of the All-Russia Popular Front (ONF) in the Russian capital on Thursday. “It is absolutely the point regarding the housing and public utilities sector,” Putin added.

The president recalled that he had stated in an annual state-of-the-nation address to the Federal Assembly in the previous year that the deoffshorization is needed in general. “I would like to note that this is turning in a common trend for all developed economies now,” Putin said. In his words, even those countries, which had previously supported the offshore zones — the United States and Great Britain — have come to the idea of deoffshorization.

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