Russia's Offshore Money Looks Set to Stay There
Russia is set to enact an amnesty on offshore assets next month, but disagreement and lack of clarity over the terms of the pardon threaten not only to render the measure impotent, but undermine the government's very drive to lure overseas money back home. The capital amnesty, part of a long-term initiative by President Vladimir Putin to "de-offshorize" the Russian economy, was ordered by the president in December during his annual address to the Federal Assembly.
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