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Putin Takes 10 Percent Pay Cut

Russian President Vladimir Putin has signed a decree that reduces his salary as well as the wages of other top officials by 10 percent.

The Kremlin announced on March 6 that the salaries of Putin, Prime Minister Dmitry Medvedev, Prosecutor-General Yury Chaika, and Investigative Committee head Aleksandr Bastrykin, will be cut by 10 percent from March 1 to December 31.

From May 1, the wage reduction will also apply to those employed by the Kremlin administration, the cabinet, and the Accounts Chamber.

The reductions come as Russia’s economy is being hit hard by a sharp drop in the price of oil, a key export, and is feeling the effects of Western sanctions imposed over Moscow's interference in Ukraine.

They come less than a year after the Kremlin announced the tripling of Putin's salary. In 2013, the president was earning less than his ministers.

Kremlin critics say official salaries for Putin and other top officials are meaningless because of perks and alleged corruption.

Based on reporting by AFP and TASS