Foreign banks banned from opening branches in Russia

President Vladimir Putin has signed a government-sponsored law banning foreign banks from opening branches in Russia, PRIME reported on Friday, citing a post on the government legal information website.

The bill was adopted by the State Duma on February 22 and approved by the Federation Council on March 6.

The bill amends some of the existing Russian banking laws as part of a strategy to develop the Russian banking sector until 2015 and consolidates the agreements reached by Russian negotiators during consultations on Russia's accession to the World Trade Organization (WTO).

SOURCE: Russian Legal Information Agency

Lots of bans in Kremlin this week.

Pro-Kremlin lawmakers on Tuesday proposed banning members of parliament from travelling abroad to countries such as the United States without permission of the Russian parliament’s speaker. The idea emerged as tensions between Moscow and Washington continued to rise over US allegations of rights abuses committed under the rule of President Vladimir Putin.

SOURCE: Global Post

Russia, Citing Safety Concerns, Bans U.S. Meat Imports

Russian officials recently enacted a law that will ban the imports of meat from the United States. The move was purportedly made due to concerns over the U.S. practice of adding the compound ractopamine – a growth stimulant–to livestock feed in an effort to create leaner, bigger cuts of meat. Russian health officials stated that animals that have been fed ractopamine retain significant levels of it in bodily tissues–levels that can be passed on to consumers who theoretically can experience its effects. Ractopamine is banned in several countries around the globe, including China, Taiwan, and the European Union due to its effects on growth, reproductive function, mood and heart health. 

SOURCE: INDYPOSTED

Officials’ foreign property ban axed by Duma – report

SOURCE: RT (Russian Politics)