TOINNOV - Breaking Energy & Business News

more than 10 000 people every month reads TOINNOV learn more
learn more



TOP STORIES
Reuters: Saudi Arabia may raise oil output

Rivalry between Saudis and Iran may crumb the OPEC deal in the end of November.


Offshore companies will have a limited access to Russian government purchases



Government will provide them with such access only after detailed and through check.



21.Jul.14 1:57 PM
By Mihail Prygunov
Photo gazeta.ru

   182

Offshore companies will have a limited access to Russian government purchases
Russian government has already worked out a law that will limit access to government purchases for offshore companies.

Vice prime minister Igor Shuvalov has sent a letter to the president. There he shared his opinion about the necessity for offshore companies to provide full information about its owners and board of directors. In case the president will confirm this law, it will be considered by State Duma of Russian Federation.

Special register will be created. It will contain all information provided by offshore companies. This register will be used by tender organizers as well. If the company is not in this register or has been excluded from the list, a customer will be forced to terminate the agreement with such company. At the same time some exceptions can take place. For instance, supplier is the only company with necessary goods and service or it provides medical care for Russian citizens abroad. These limitations will consider only huge projects.

President of Russian Federation has already offered such limitations for offshore companies in 2013. He said that companies which are eager to benefit from additional facilities and governmental support will have to register in accordance with jurisdiction.



Back to the list