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Putin Backs Efforts to Compel $1 Trillion Repatriation

Russian President Vladimir Putin threw his support behind efforts by allied lawmakers to repatriate as much as $1 trillion in capital held by companies and high ranking officials abroad.

Russia should proceed with anti-corruption legislation that would put limits on bureaucrats and politicians owning foreign bank deposits and securities, Putin said today in Moscow in his first state-of-the-nation address since returning to the presidency in May. The curbs should include all top policy makers including the president, prime minister and their families, he said.