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Medvedev Orders Bank Chiefs to Reveal Personal Assets in Corruption Battle

Sberbank's German Gref (L) and VTB's Andrei Kostin.

Prime Minister Dmitry Medvedev has ordered the heads of Russia's two largest banks — state-owned Sberbank and VTB — to report their income, expenses and assets as part of an annual anti-corruption checkup.

Sberbank's German Gref, a former economic development minister, and VTB's Andrei Kostin were among those officials required to report their holdings according an order signed by Medvedev last week and published on the government's website.

Head of the Federal Housing Development Fund Alexander Braverman was also singled out by the government order.

The government has required the managers of large state interests to report their earnings, expenses and assets routinely since 2012 in compliance with Russian anti-corruption legislation.

This legislation has been used to look into the personal financial activities of officials and managers at the Central Bank, various social welfare funds, Russian Railways, Gazprom, Rosneft, Transneft, Aeroflot and Inter RAO — a major energy holding company, reported.

The law “On Combating Corruption” requires all state and municipal employees — as well as their families — to report their incomes annually. This applies to State Duma and Federation Council members, as well as the heads of state-owned companies.

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