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President added to list of persons banned from having bank accounts abroad

The list was expanded in accordance with the head of state’s instructions

Head of the Russian Federation Council Committee on Constitutional Legislation and State Building Andrei Klishas Mikhail Tereshchenko/TASS

Head of the Russian Federation Council Committee on Constitutional Legislation and State Building Andrei Klishas

© Mikhail Tereshchenko/TASS

MOSCOW, February 27. /TASS/. The Russian president has been added to the list of officials subject to restrictions on having foreign assets and bank accounts, co-chairman of the working group on Constitutional amendments, head of the Russian Federation Council (upper house) Committee on Constitutional Legislation and State Building Andrei Klishas told reporters on Thursday.

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Putin supports ban on foreign bank accounts for senior government officials

"The list of officials subject to restrictions on having foreign financial tools and financial assets abroad has been expanded. In accordance with the head of state’s instructions, the president of the Russian Federation has been added to that list of individuals," Klishas said.

He noted that all instructions regarding the Constitutional amendments given by the president at a meeting with the working group on February 26 would be finalized and submitted to the Russian State Duma (lower house of parliament) by March 2.

At a meeting in the Kremlin, member of the working group and Chairman of the Federation Council Foreign Affairs Committee Konstantin Kosachev proposed an amendment prohibiting members of the government, heads of federal government agencies, lawmakers, prosecutors and the human rights commissioner to have bank accounts and deposits and keep money and valuables in foreign banks located outside Russia. Russian President Vladimir Putin supported that initiative and suggested expanding the list of individuals to include the head of state.

On January 23, Russia’s State Duma (lower house of parliament) unanimously voted to approve the bill in the first reading on the constitutional amendments submitted by Russian President Vladimir Putin. The document, in particular, stipulates expanding the powers of the legislature and the Constitutional Court, a ban on high-ranking officials from holding residence permits in other countries, limiting the number of presidential terms, placing the supremacy of Russia’s Constitution over international agreements and strengthening the state’s social obligations. The presidential bill also provides for a nationwide public vote on the law on amendments to Russia’s Constitution.

The second reading of the bill is expected to take place in the State Duma on March 10.

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