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State companies, state banks to have to reveal all information about them

By February, state companies must unconditionally disclose their beneficiaries, including ultimate ones, and the contractors

MOSCOW, January 11 (Itar-Tass) — The RF government is starting a war on corruption in state companies and banks. They will be required to disclose information about the contactors and report on the incomes of their top managers and their relatives, Vedomosti writes.

On December 30, a list of the government's instructions to the state companies appeared that set total control is set over the contractors of state companies, as well as over incomes of their top managers and their relatives.

By February, state companies must unconditionally disclose their beneficiaries, including ultimate ones, and the contractors. The information must be documentarily confirmed and submitted to the Energy Ministry, Transport Ministry, Finance Ministry and Ministry of Communications and Mass Media, the instruction says.

By January 14, state companies and state banks should introduce amendments to the internal documents, allowing them to conclude new contracts only with the contractors that agreed to disclose the structure of their property, and terminate contracts with those contractors that refused to disclose the required information. If a contractor changes the ownership structure, then state companies and state banks must within 10 days notify the ministries about that. The information must be provided on all, even minor shareholders of the contractors, the prime minister’s press secretary Dmitry Peskov said.