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Latvia: off-shore country?

Jul 29, 1999

RIGA (BNS) - The Russian central bank had no legal grounds to include Latvia in the list of off-shore countries, so this decision should be revoked soon, Latvian bankers claim.The Russian central bank ruled last week that Russian banks should create reserves for operations with off-shore residents as of Sept. 1. The list attached to the document names Liechstenstein, Luxembourg, Cyprus, Hong Kong, Latvia and other countries as off-shore zones.The Foreign Ministry claims the decision, which viola ...

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