Russia's Putin suggests foreign accounts ban bill

President Vladimir Putin has submitted a draft bill to the State Duma prohibiting Russian officials from holding bank accounts abroad or owning foreign-issued shares and bonds, RIA Novosti cites the Duma’s official website as saying.

"This ban applies to persons who hold government positions in Russia, the Prosecutor General's first and other deputies, members of the Central Bank's board of directors, government officials in the regions, federal civil servants and officials at state-run corporations, foundations and other organizations established under federal law, who can only be appointed or dismissed from their posts by decision of the President, the Government or the Prosecutor General of Russia," the president's bill says.

Meanwhile, the Duma is currently preparing for a second reading of a similar bill which would ban government officials and military personnel, and also their spouses and underage children from owning real estate abroad, holding accounts with foreign banks outside Russia or owning foreign issued stocks and bonds, including foreign government securities.