Leading the Alternative World Order

Reshaping Perspectives and Catalyzing Diplomatic Evolution

Friday, September 22, 2023


Subscribe to our Newsletter

- Gain full access to our premium content

- Never miss a story with active notifications

- Exclusive stories right into your inbox

WorldAsiaThe head of the State Duma committee on the financial market criticized Wasserman's initiative to store money

The head of the State Duma committee on the financial market criticized Wasserman’s initiative to store money

The head of the Duma Committee on the Financial Market, Anatoly Aksakov, in a conversation with Russian media, called on the idea of ​​MP Anatoly Wasserman to limit the storage of cash to an amount not exceeding 1 million rubles inconsistent with the Constitution.

“Strange move. This contradicts both current legislation and the approaches we have prescribed in the Constitution. We can have cash, non-cash, and now a digital ruble law is being prepared. And here the equality of the forms of our national currency is disavowed. I will not be able to support such a bill, ”said the head of the committee.

Aksakov noted that the initiative is repressive in nature and generally seems impractical without full control.

“It’s such a repressive form that sooner or later can lead to a social explosion. These proposals may have good intentions, but they will have the worst consequences. The topic of cash and non-cash ruble is irrelevant in our country,” Aksakov added.

The Finance Committee, according to Aksakov, will not support Wasserman’s initiative, as, in his opinion, most MPs will not.

On April 17, Wasserman announced that he had prepared a bill proposing a new article in the penal code: “Illegal circulation of funds”. According to the MP’s idea, if a citizen has cash in rubles or foreign currency in excess of 1 million rubles, he should report this to the tax department and explain the origin of the money. If it is impossible to explain the origin, the funds will be confiscated, and their owner will be fined twice the amount of the confiscated funds.

The MP believes that cash in large quantities, “as a rule, is the result of activities in the shadows or even the ‘black’ sector of the economy”, therefore, this area must be controlled. But until there are proper mechanisms in the legislation, that is not possible, Wasserman added. According to the deputy, the new bill will help to fight corruption in Russia and the financing of extremist activities.

Read the Latest Ukraine War News on The Eastern Herald.

For the latest updates and news follow The Eastern Herald on Google News, Instagram, Facebook, and Twitter. To show your support click here.


Russia Desk
Russia Desk
The Eastern Herald’s Russia Desk validates the stories published under this byline. That includes editorials, news stories, letters to the editor, and multimedia features on easternherald.com.

Public Reaction

This site uses Akismet to reduce spam. Learn how your comment data is processed.