Russia might exclude Latvia from offshore countries list

Moscow can exclude Latvia from the list of offshore countries and territories. The RIA Novosti correspondent reports that this information was disclosed by Director of Board of the Interstate bank Viktor Gerashchenko.

The famous Russian banker, ex-chief of the Russian Central Bank, took part in a two-day international conference called "The Banks and Finances of the Baltics" held in the Latvian capital.

According to Gerashchenko, the Russian Central Bank entered Latvia on the list of offshore countries and territories in 1998 as the situation with the outflow of the Russian capital had worsened, including through Latvian commercial banks. While talking with Latvian journalists Gerashchenko said that this was necessary to limit the capital outflow.

He also says that "Latvian attitude towards the Russian people" influenced the decision.

Gerashchenko thinks that the situation has changed for the better, in the financial sphere as well. In his words, the issue of excluding Latvia from the offshore list can be resolved during the forthcoming visit of First Deputy Chairman of the Russian Central Bank Andrei Kozlov in Riga that is scheduled for late October.

The agreement on the visit was reached at the last meeting of the Latvian Ambassador in Moscow with Russia's Central Bank leadership.