Putin: Russian companies should be transparent, deoffshorization pursues namely this goal
MOSCOW. March 20 (Interfax) - The purpose of the 'deoffshorization' of the economy is not limiting the possibilities of using offshore schemes but making the ownership structure of Russian companies more transparent, Russian President Vladimir Putin said.
"Our principled stance is as follows - Russian companies should be registered in our country and have a transparent ownership structure. Namely due to this the goal of domestic economic deoffshorization has been set," Putin said when speaking at the Russian Union of Industrialists and Entrepreneurs meeting.
Necessary amendments to the regulations and the legal base are being drafted in order to implement this task, Putin said. "But I want to note one thing right away. Our purpose is not just limiting the possibilities of using offshore schemes. We understand perfectly that little can be achieved here with bans," the president said.