Zee Beam News

NOVOSIBIRSK, December 14 (RIA Novosti) - The Russian government agrees with the banking community that the activities of foreign banks' branches in the country should be banned, President Vladimir Putin said Wednesday. "The Russian government agrees with our [Russia's] banking community that branches of foreign banks and their activities in Russia should be now be restricted, and in practice prohibited," Putin said. "This is due not only to the competitive war, but also to the need to monitor the movement of funds and capitals under modern conditions," the president said. It is also linked to anti-terrorism measures and the need to counter laundering of criminally obtained funds, he said.