MOSCOW, June 30 (RAPSI) – Russian government submitted a bill on amending the “On Banks and Banking” law to the State Duma on Monday, the lower house has announced on its website.

Under this bill, the economic entities of strategic importance for Russia’s defense industry and national security and their subsidiaries and affiliated companies would only be able to open accounts and secured letters of credit with banks, to sign bank account and bank deposit agreements and to buy bank debt securities if the bank in question meets the requirements stipulated in the law “On Banks and Banking” law.

According to the explanatory note to the bill, these provisions are fully in keeping with the requirements of the World Trade Organization.