The Ministry of Finance will allow companies under the threat of sanctions to classify data

The Ministry of Finance of Russia proposed partially hiding information about legal entities that have already been or may fall under sanctions. At the proposal of the Ministry of Finance, in the Unified State Register of Legal Entities (the Unified State Register of Legal Entities), their name and TIN will remain, and information about owners, assets and accounting reports can be hidden.

According to the Ministry of Finance, companies threaten Western sanctions in Russia more than 10 thousand, their list will also be secret. The companies will include in it at the request of the legal entities themselves or by decision of the government. This was written by the Russian BBC service with reference to the draft government decree .

Lawyers note that concealment of data on owners and assets is an effective antisancation measure, but it also increases the scope for corruption and complicates the doing business. As lawyer Sergei Usoskin notes in a conversation with the BBC, due to the closure of information to the Unified State Register of Legal Entities, officials will be easier for officials to register their property for third parties, and it will be more difficult to check their counterparties to business.

Now any user of the Internet can get access to the Unified State Register of Legal Entities and other Federal Tax Service services, legally and free. If the Unified State Register of Legal Entities is partially classified, information from it will be sold and bought on the black market, the BBC interlocutors suggest, indicating that such databases are now available for download.

• Earlier, Russian President Vladimir Putin signed a decree on response sanctions against "unfriendly countries". The document prohibits concluding transactions and fulfilling obligations to foreign legal entities and individuals that fell under the response of Russia. The government should be a list of these persons within ten days. Russians will also not be able to conduct financial transactions if people from this list receive benefits from them, and export raw materials from Russia in favor of those who fell under the response.