Putin bans officials from owning foreign accounts

MOSCOW: President Vladimir Putin has submitted a bill that would ban Russian Cabinet members and other senior officials from having foreign bank accounts and owning foreign stock.

The Kremlin said the proposal also applies to the officials' wives and underage children.

It said Tuesday that the measure is aimed at "ensuring national security, establishing order in lobbyist activities, increasing investment in the national economy and raising efficiency of anti-corruption efforts.''

Putin mentioned the move in his state-of-the nation address last fall. Some observers saw it as part as an increasingly isolationist course he has taken since returning to the presidency.

Putin has accused the US of staging massive protests against his rule in Moscow, and he initiated the passage of a series of repressive bills after his inauguration in May.

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