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Russian Federation Council Member Olshansky Resigns

Thinning ranks? Members of the Federation Council respond to a vote during a session in December.
Russia's upper house of parliament has announced the latest in a wave of legislative resignations.

In a statement on March 6, the Federation Council said Nikolai Olshansky gave up his seat due to his age and health problems.

There have been a number of recent departures by members of the Federation Council and of the lower house of parliament, the State Duma.

Three parliamentary deputies have quit their seats since mid-February after President Vladimir Putin submitted a bill banning senior Russian officials, their spouses, and underage children from holding bank accounts or property abroad.

Last week, Federation Council Chairwoman Valentina Matviyenko said some senators holding bank accounts outside Russia were considering the possibility of vacating their seats.

Olshansky is a millionaire whose property is estimated at $750 million.

Based on reporting by ITAR-TASS and Interfax