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Finance Ministry’s initiative on state-owned firms pertains to deposits only

February 16, 21:21 UTC+3
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MOSCOW, February 16. /TASS/. Potential restrictions for Russian companies in respect of work with nonresident banks may only pertain to placing funds on deposits, Deputy Finance Minister Alexei Moiseev told TASS on Thursday.

"An idea of restricting work with banks for state-owned companies is under consideration only and is not formalized in legal terms. No fixed wordings exist so far. In any case, this may only pertain to placement and administration of accounts of state-owned companies, strategic companies, and extra-budgetary funds. No other restrictions are meant," Moiseev said.

Draft regulatory acts will undergo all prescribed procedures when they will be developed, including public discussion, the official added.

Subsidiaries of nonresident banks may be banned from working with Russian strategic state-owned companies if countries, where parent companies of such banks are registered, are unfriendly towards Russia, Moiseev said earlier.

Such state companies comprise state-owned corporations, strategic companies with government participation and state extra-budgetary funds, he said.

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