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Russian officials have 3 months to ditch foreign bank accounts

From reuters.com

Russian officials have until July 1 to get rid of financial assets abroad as part of President Vladimir Putin's campaign to stem corruption and capital flight, his chief of staff said on Tuesday. Sergei Ivanov, held a rare Kremlin news conference to announce measures related to a drive to "de-offshore" the Russian economy - a term used by Putin in the first state of the nation speech of his new term last year. Russia ranked 133rd out of 174 states in Transparency International's 2012 Corruption Perception Index. Its central bank chief said in February that almost $50 billion was sent abroad illegally last year. ... (full story)

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