MOSCOW, December 23 (RAPSI) – President Vladimir Putin has signed a law to extend the list of officials who are prohibited from having foreign accounts and storing money and valuables in foreign banks to include officials whose decisions concern national security. The document was posted on the government’s website of planned legislation on Tuesday.

For the past few years, Russian authorities have been fighting corruption by increasing the transparency of officials’ transactions. In particular, officials are required to declare their incomes. Currently, federal, regional and municipal leaders, officials of the Prosecutor General’s Office and the Central Bank, top managers of state-owned corporations and federal officials who are appointed by the president, the government or the prosecutor general are prohibited from opening foreign accounts and using foreign financial tools.

The new law expands the ban to officials who take part in preparing decisions on national sovereignty and security, notably federal and regional officials and employees of the Central Bank and state-owned companies who are on a list that was compiled under relevant legislative acts.

The law also required all officials and applicants for civil service jobs to provide information about their incomes, property and property obligations.

Officials who buy real property, vehicles or securities worth more than his or her family’s total income for the preceding three years will also be required to provide information about his/her expenses and the expenses of his/her spouse and underage children.

Federal and municipal officials and members of the federal parliament and local legislatures will also be prohibited from managing companies or from any, even indirect, involvement in business.

Under current legislation, they are prohibited from engaging in business. The law will become effective on January 1, 2015.