A new law passed by Russia’s State Duma will prohibit state procurement from companies registered in offshore jurisdictions, RIA Novosti reports.

The government sponsored bill, which the Duma adopted on its third reading, stipulates that a legal entity registered in a state that provides tax exemptions and does not require disclosure of financial information cannot be involved in state purchases.

In Armenia, there are companies, registered in offshore jurisdictions, which have won state contracts.

On several occasions Hetq has written about how offshore companies have won state contracts. There’s also the case when the founders of Armenian registered companies, that have won state procurement contracts, are offshore concerns with Armenian government officials, or their relatives, as shareholders.

լուսանկարը` Courtesy/KyivPost.com