Putin proposes amnesty for returning capital to Russia

[MOSCOW] President Vladimir Putin proposed an amnesty on Thursday for those returning capital to Russia, indicating they would not face tax or other penalties.

Russian officials have said they expect net capital outflows this year to soar far above US$100 billion, with the country facing the possibility of recession and the rouble sliding against the dollar.

In a state of the union speech, he said he had asked the central bank and government to take strict measures to tackle what he called speculators in the foreign exchange market.

REUTERS