Russian Central Bank will lower the Iron Curtain

Dishonest financiers will be prevented from leaving Russia.
The Bank of Russia has finally prepared a bill on the prohibition of traveling abroad to financiers guilty of the collapse of their organizations. Until now, they almost always managed to hide and avoid responsibility for what they had done. Now the document is being discussed with the relevant ministries and departments.

The Central Bank developed a draft law "On Amendments to the Federal Law" On the Procedure for Departure from the Russian Federation and Entry into the Russian Federation "and the Federal Law" On the Central Bank of the Russian Federation "(the bill" on Fugitive Bankers "). The project proposes to temporarily limit the right to travel abroad for beneficiaries and managers who brought the banks to a sorry state, Interfax reported yesterday, citing a source in the government's financial and economic bloc. The amendments will also affect the owners and management of non-state pension funds (NPFs) and insurance companies. The press service of the Central Bank confirmed this information. "The Bank of Russia really developed a draft law that provides for temporary restrictions on the right to leave the Russian Federation for unscrupulous managers and owners of credit and non-credit financial organizations. At present, this initiative is being discussed with interested ministries and departments, "they said, refusing to disclose the details. According to Kommersant's information, the project has already conceptually supported the Ministry of Economics, but there is no steel to comment on the document in the department.

The problem of "runaway bankers" who brought their organization to bankruptcy, withdrew assets and fled abroad, the Central Bank chairman Elvira Nabiullina discussed in September 2016 at a meeting with President Vladimir Putin. The president instructed the government and law enforcement agencies to consider limiting the travel abroad to such bankers. Later Mrs. Nabiullina stated: the responsibility of bankers should be personalized, so that "the inevitability of punishment of those who commits such crimes in the banking sphere" was introduced.

Until now, in most cases, after the licenses were revoked, the accountable Central Banks of the organizations found out that their beneficiaries had safely left the borders of Russia. In fact, up to now, only the co-owner of Vneshprombank Larissa Marcus and the ex-co-owner of My Bank, Gleb Fetisov, have been liable for the responsibility for major financial crises. At the same time, former owner of Mezhprombank Sergey Pugachev, ex-co-owners of the Bank of Moscow (Andrei Borodin), Bank Pushkino (Alexey Alyakin), Master Bank (Boris Bulochnik), Rossiyskiy Kredit (Anatoly Motylev), Probusinessbank (Sergey Leontiev, Alexander Zheleznyak) and Bank Trust (Ilya Yurov, Nikolai Fetisov and Sergei Belyaev).