Medvedev Proposes Offshore Zone in Russia's Far East

With Cyprus caught in a financial crisis, Prime Minister Dmitry Medvedev has proposed creating an offshore zone in Russia's Far East. "The entire world is now talking about Cyprus. Offshore zone or not, they will sort it out sooner or later and the solution will be reasonable and forward-looking. But since there is so much turmoil going on, maybe we should think about creating a zone of some kind in the Far East. There are many suitable areas. Sakhalin, the Kuril Islands. We could transfer the money that is currently deposited in Cyprus and other areas that have not been mentioned for obvious reasons, such as BVI, the Bahamas and so on," Medvedev said at a Government meeting. He stressed that there are certain risks implied as "everyone would be registering in this country" but it is a matter of legislation. At any rate, the prime minister expects new development mechanisms to appear for Russia's Far East. "I expect all government members to give it a thought," Medvedev said.

http://rapsinews.com/judicial_news/20130321/266789803.html
http://www.itar-tass.com/en/c154/682961.html
http://top.rbc.ru/economics/21/03/2013/850200.shtml (video)