OFFSHORE STATUS FOR KALININGRAD?

Publication: Monitor Volume: 1 Issue: 59

The European Bank forReconstruction and Development is studying the possibility ofcreating a special off-shore tax-free financial zone in Kaliningradto attract Russian funds now flowing to Cyprus and the Bahamas,Interfax-AiF reported last week.

An analogous type of off-shore arrangement that was implementedin Ingushetia turned that region’s economy around, local officialstold Vestnik June 14.

Strategic Rocket Forces "Underfinanced and Understaffed."