Tax crime statute of limitations could be increased to 10 yearsAccording to draft amendments to the Russian Tax Code, the statute of limitations for tax crimes could be increased from three to ten years. In December 2013, the State Duma (lower house) adopted a presidential bill in the first reading that gives investigators the power to open tax cases without considering the opinion of the tax authorities.10:44 21.04.2014
Russia approves bill on national card payment systemThe Russian government has approved the idea of foreign banks’ direct involvement in the national payment system and the addition of the ruble to the Continuous Linked Settlement (CLS) system.11:43 18.04.2014
Russian government submits foreign capital quota billThe Russian Government has submitted a bill to the State Duma that would set a 50% quota on foreign participation in the Russian bank system, a State Duma representative told RIA Novosti.11:25 18.04.2014
Bitcoin exchange company Mt. Gox moves towards liquidation - reportMt. Gox, formerly known as the largest cyber currency exchange service, is due to be liquidated following The Tokyo District Court’s decision to reject company’s bankruptcy protection application, Wall Street Journal reported Wednesday.12:51 17.04.2014
Russian lawmakers approve bill on private duty-free delivery regulationThe State Duma on Tuesday adopted a bill in the first reading giving the Russian Government the power to regulate the duty-free delivery of parcels containing private use goods.17:38 15.04.2014
Lawsuit on alleged IMF loan to Ukraine dismissedThe Moscow Commercial Court has dismissed a civil lawsuit against the Russian officials that allegedly did not take action to prevent the International Monetary Fund from using the funds provided by Russia for a loan to the Ukrainian government, an act the plaintiffs claim is illegal, the court told RAPSI.14:07 15.04.2014
Finance Ministry to help banks reduce risk of sanctions related to FATCAThe Finance Ministry has drafted amendments to allow Russian banks to directly report to the US Internal Revenue Service (IRS) about their American clients’ accounts and transactions without violating Russian legislation, and also to close the accounts of those who refuse to disclose this information.11:16 10.04.2014
Visa and MasterCard block Rotenberg’s bank operationsVisa and MasterCard payment systems on Friday blocked operations with SMP Bank owned by Russian businessmen Arkady and Boris Rotenbergs added to a list of targeted economic sanctions by the United States on Thursday, according to the bank’s statement.12:14 21.03.2014
US imposes sanctions against Russian officials over UkraineIn response to Russia’s stance on developing Ukrainian crisis, the US has imposed sanctions against officials and individuals who are deemed responsible for the threats to Ukraine’s sovereignty, according to the White House statement released on Thursday.17:00 06.03.2014
EU imposes economic sanctions against Ukrainian officialsThe European Union (EU) is imposing economic sanctions against Viktor Yanukovich and 17 other Ukrainian officials and businessmen. According to the document, all assets and economic resources of the people mentioned must be frozen.10:51 06.03.2014
Russia mulls seizing assets of US, EU companies in response to sanctionsThe Federation Council, the upper house of Russia’s parliament, is developing a bill that would provide for the confiscation of the assets and accounts of European and Amercian companies, including private ones, pending the imposition of economic sanctions against Russia.12:08 05.03.2014
Over 2,100 convicts released under economic crime amnesty in RussiaMore than 2,100 convicts have been released in Russia in accordance with economic crime amnesty passed in July 2013, the Prosecutor General's Office reported Tuesday.16:30 04.03.2014
US sanctions may lead Russia to default on US debts – officialAs the US considers imposing sanctions against Russia, concerns loom that Russia may be forced to declare its inability to pay off loans issued by US banks, Presidential aide Sergei Glazyev told RIA Novosti.13:47 04.03.2014
Bill on private duty-free delivery regulation submitted to State DumaA bill giving the Russian Government the power to regulate the duty-free delivery of parcels containing private use goods has been submitted to the State Duma , according to the official website of the lower house of parliament.10:57 04.03.2014
Bankruptcy abuse prevention bill submitted to State DumaA bankruptcy abuse prevention bill designed to amend the federal law on insolvency (bankruptcy) and the Administrative Offences Code has been submitted to the State Duma.16:03 26.02.2014
Russian government approves bill on citizenship for foreign investorsThe Russian government's legislative commission has approved a bill on granting citizenship to foreigners who invest more than 10 million rubles (over $281,601) in Russia, or who have a Russian diploma and have worked here for at least three years, according to the government's official website.10:41 25.02.2014
Lawyers detained in Kazakhstan banking sabotage caseThe individuals who have been detained in the ongoing banking sabotage case were employed by a law firm, a spokesman from the Prosecutor General’s Office of Kazakhstan told journalists on Thursday.16:45 20.02.2014
UK proceedings launched against 3 ex-Barclays employees in LIBOR probeThe UK Serious Fraud Office launched criminal proceedings Monday against three former Barclays Bank employees based on allegations that they conspired to commit fraud between June 2005 and August 2007 in connection with the London Interbank Offered Rate (LIBOR) manipulation scandal.13:41 18.02.2014
Russian business ombudsman moves to extend economic crime amnesty for six monthsRussian business ombudsman Boris Titov told the press on Tuesday that he will suggest the State Duma to extend the economic crime amnesty for six months.13:03 18.02.2014
Russian convicts produce $900mln worth of goods annualyRussian convicts manufacture more than 100,000 kinds of goods worth almost 32 billion rubles ($900 million) annualy, financial director of Federal Penitentiary Service Oleg Korshunov told the press on Tuesday.11:35 18.02.2014