There are concerns that Putin could be using Russia's banking sector clean-up to raid cash for the state budget
Reuters
- Russia is continuing their clean-up of the country's troubled banking sector.
- Some Kremlin insiders are uncomfortable about the effective takeover of some of the country's largest private institutions.
- There are concerns that the clean-up may be used to inject much-needed cash into the state budget to fund Putin's costly plans to project Russian power.
Russia’s clean-up of its troubled banking sector is continuing apace with hundreds of banks being stripped of their licences, but some Kremlin insiders are understood to be uncomfortable about the effective takeover of some of the country’s largest private institutions.
While officials argue that it is overseeing the recovery of these banks, there are said to be concerns the move may be intended to inject much-needed cash into the state budget. With Vladimir Putin’s victory in presidential elections this Sunday all but certain, there is little sign of him curbing his costly nuclear plans, continued engagement in the Donbass, annexation of Crimea and war in Syria. See the rest of the story at Business Insider
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