In July and August 2012, two bills were proposed, according to which government officials of the Russian Federation should be prohibited from keeping money in foreign banks and owning real estate outside their state. The bills were supported by representatives of all factions of the Duma.
The ban on the ownership of foreign real estate is partly due to the fact that, having bought an apartment or a house in a foreign state, an official will have to constantly take into account the position of this state when making certain decisions. Moreover, the property may even be the subject of blackmail if the government of the country where it is located wants to "put pressure" on a Russian official.
As for the ban on keeping money in banks of other states, it is primarily associated with the need to improve the state of the Russian economy and reduce the amount of money "floating" abroad. According to some politicians, civil servants are obliged to support domestic banks, and not to develop the economies of other countries. Moreover, it will help control the income of officials, as well as increase the effectiveness of the fight against corruption. The fact is that foreign banks often do not provide all the necessary information about the accounts of their clients from Russia, and this allows unscrupulous officials to “hide” money obtained illegally.
In the event that the proposed bills come into force, civil servants will be given six months to transfer money and close foreign accounts and a year to resolve all issues related to foreign real estate. When this period expires, officials who have not fulfilled the requirements will be brought to justice. Violation of the law provides for up to 5 years in prison and up to 10 million rubles in fines.
According to a sociological study conducted by the Public Opinion Foundation, a third of Russians surveyed are confident that if officials are prohibited from keeping money in foreign banks and buying real estate abroad, the state of the Russian economy will indeed improve. At the same time, 66% of respondents supported the draft laws and considered them fair.
