MOSCOW, December 14 (RAPSI) – The State Duma, the lower house of parliament, passed in the third and final reading a bill prohibiting lawmakers, officials and law enforcement officers to possess and use “foreign financial instruments”.

The bill was proposed by Russian government.

“Foreign financial instruments” include: 

• Securities and related financial instruments belonging to people who live or stay in a foreign country or organizations registered or placed there;

• Interests, shares in the subscribed capital of organizations which are registered or placed in a foreign country as well as property of foreign organizations not registered as legal entities;

• Contracts which are derivative financial instruments and loan agreements if at least one participating party is registered, lives or is placed in a foreign country as well as foreign organization not registered as legal entity;

• Credit agreements with foreign banks and credit organizations.

The bill prohibits officials, members of the State Duma and Federation Council, management of the Prosecutor General’s Office, the Central Bank, judges and other specified people to own and use such instruments. The bill also notes that such prohibition includes ownership and use of assets through third parties, such as spouses and children.