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The lower house of parliament will soon consider a special amnesty designed to repatriate billions of dollars that have fled the country in recent years, a State Duma deputy involved in drafting the bill said Tuesday.
"Our committee will submit a draft law to the State Duma on Jan. 11 concerning an amnesty for people who sent hard currency abroad and are now willing to redeposit it in Russia by July 1, 1995," said Sergei Kalashnikov, chairman of the Duma's labor welfare committee.
"Every month $1.5 to $2 billion are smuggled out of Russia. In the past four years over $100 billion were smuggled out.," he said. "We expect $30 to $35 billion to come back to Russia."
But he said the amnesty would not cover funds that had fled the country after being obtained illegally. "The amnesty will not embrace criminal elements with criminal money," he said.
Capital Flight Targeted by Amnesty Bill
24 December 1994
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