December 15th, 2013

Navalny in English

Mr. Promise Maker and the Offshores

-So, are you finally satisfied with Putin? – is what everyone’s asking me in reference to his menacing words against offshore schemes and the fact that I sort of praised those words yesterday.

Allow me to clarify. Its more that I’m pleased by the fact that Putin is at least starting to repeat out loud what the Foundation for Fighting Corruption introduced two years ago in bill form.  However, I highly doubt that the proposals regarding deoffshorization of the economy will be realized, and won’t just remain typical Putinesque promises made by Mr. Promise Maker.

Now let’s you and I listen and read about what Putin said regarding offshores:


The offshore nature of the Russian economy has become a byword. Experts call this phenomenon an escape from jurisdiction. As per some estimates, nine out of ten business transactions currently being concluded by large Russian companies, including, by the way, companies with state involvement, are not being regulated by domestic laws. We need a whole system of measures for the deoffshorization of our economy. I am charging the Government to bring forward appropriate and comprehensive proposals in relation to this issue.   
“There is no doubt that political competition is a good thing for our country. We need to form our own set of rules for political competition in good conscience.”

We need to achieve transparency within offshore companies;  the disclosure of tax information,  as do many countries during the course of the negotiations process with offshore zones and the signing of the corresponding agreements. All of this can and needs to be done. But if, during the choice of jurisdiction, a matter is decided pro-foreign legislation, then we need to, of course, admit that we need to make corrections to our own deficiencies in our judicial system during the rule making, during the practice of law. It is only by our honest admittance of this, that we can cardinally change the situation.

That’s what Putin said yesterday during his annual address… BUT HOLD ON A MINUTE, HE DIDN’T SAY THAT YESTERDAY.
That was the annual address from 2012. That is, he said that a year ago.

And this year, he repeated it all again.
…regarding the tasks related to the deoffshorization of the economy. There’s one other topic that I’d like to turn your attention to and which I feel is essential to revisit today.

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Therefore, the real question isn’t: “Will Putin engage in the deoffshorization of the economy?” but rather “Will Putin engage in the deoffshorization of his thieving friends?”

I doubt it. The affairs of the thieving friends are getting better and better and Mr. Promise Maker is only making promises.

Originally posted by navalny on 2013-12-13 15:31:00