Will ex-owners of rescued banks not be able to leave Russia?

Will ex-owners of rescued banks not be able to leave Russia?

Russia's government should consider drawing up legislation to freeze the assets of banks being bailed out by the state and those of their owners, Russian Central Bank Governor Elvira Nabiullina said.

She said that her bank would propose a mechanism to prevent the owners and senior executives of lenders undergoing rescues from leaving the country.

"Regrettably bankers are escaping abroad and regaining access to withdrawn assets there,” Nabiullina told a banking congress in St Petersburg.

Nabiullina reiterated that the bulk of weak banks or those with doubtful business practices have left the Russian banking system, Reuters reported.

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