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Pankin May Return to Finance Ministry

Dmitry Pankin, former Deputy Finance Minister and former Head of the Federal Service for Financial Markets. Vladimir Filonov

Star economist Dmitry Pankin may return to the Finance Ministry after the disbandment of his Federal Financial Markets Service this month, a news report said Tuesday.

Pankin, who left the ministry in 2011 to helm the markets regulator, is preparing to return to his senior post where he oversaw state policy in domestic and foreign borrowing, debt management, and sovereign funds, Vedomosti reported, citing unidentified ministry and market sources.

No paperwork for the appointment has been signed yet, said one of the sources.

Pankin, 55, was appointed deputy finance minister in 2008 after his immediate supervisor, Sergei Storchak, was arrested on suspicion of financial fraud. In 2011, the case against Storchak was closed, and he returned to work as deputy minister, and Pankin was appointed head of the Federal Financial Markets Service.

Storchak may become Russia's next G20 sherpa, although, the position is usually combined with the representative's current position, Novaya Gazeta reported.

The Federal Financial Markets Service, created in 2004, was disbanded in Sept. 1, and its duties were handed over to the Central Bank.

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