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Russia to ban government contracts for offshore-registered companies — Medvedev

December 25, 2014, 18:08 UTC+3 MOSCOW
The draft law envisions that government and municipal contracts will be banned from winning by the companies located or registered in offshore jurisdictions, Prime Minister Dmitry Medvedev says
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Russian Prime Minister Dmitry Medvedev

Russian Prime Minister Dmitry Medvedev

© EPA/DMITRY ASTAKHOV/RIA NOVOSTI/GOVERNMENT PRESS SERVICE POOL

MOSCOW, December 25. /TASS/. Russia’s government plans to ban government contracts for offshore-registered companies, Prime Minister Dmitry Medvedev said at a cabinet meeting on Thursday.

“There is a draft law amending the law on state and municipal purchases,” he said. “The document envisions that government and municipal contracts will be banned from winning by the companies located or registered in offshore jurisdictions.”

“The commission will look into participants’ compliance with the requirements and if the presence of companies in these offshore zones is discovered, the bids will be annulled,” Medvedev said.

The prime minister noted that “the government has no intention to pay for these goods and services.”

“If business wants to gain profit participating in the system of government purchases (the rest is out of the state regulation), then it should register in the Russian jurisdiction,” he said.

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