Putin: Owners of Newly Privatized Assets Must Be Under Russian Jurisdiction

According to the Russian president, the owners of assets set to be privatized in Russia must be under Russian jurisdiction.

MOSCOW (Sputnik) — The owners of assets set to be privatized in Russia must be under Russian jurisdiction, President Vladimir Putin said Monday.

"The new owners of privatized assets must be under Russian jurisdiction. Semi-legal schemes, transfer of assets to offshore, concealing share owners is unacceptable," Putin said at a meeting on privatization.

Last week, Russia's Deputy Minister of Economic Development Oleg Fomichev stated that the country's government had drafted an anti-crisis plan that includes "major privatization." First Deputy Prime Minister Igor Shuvalov stated earlier that Russian authorities are considering an ambitious privatization plan for 2016.