Foreign banks banned from opening branches in Russia
(AGI) - Moscow, Mar 15 - Russian President Vladimir Putin has signed a law banning foreign banks from opening branches in Russia.
The bill was adopted by the State Duma on February 22 and approved by the Federation Council on March 6.
It amends some of the existing Russian banking laws as part of a strategy to develop the Russian banking sector until 2015, and consolidates the agreements reached by Russian negotiators during consultations on Russia's accession to the World Trade Organization (WTO).
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