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Russian Company Chiefs Exempt From Public Income Declaration

The heads of major Russian companies co-owned by the state will not have to declare their income publicly.

Remarks made by Prime Minister Dmitry Medvedev's spokeswoman on March 31 mean that information about the incomes of state-connected company chiefs who are widely believed to be very wealthy will be shielded from public view.

The company heads include close allies of President Vladimir Putin such as Rosneft CEO Igor Sechin and Russian Railways chief Vladimir Yakunin.

Medvedev signed an order in December requiring company heads to declare their incomes publicly.

But his spokesman, Natalya Timakova, said on March 31 that an explanatory note specifies that heads of partially state-owned companies are commercially hired individuals and are not obliged to release the information to the public.

Yakunin has denied corruption allegations raised by opposition leader Aleksei Navalny, and claims that he built a lavish estate outside Moscow caused an uproar.

Based on reporting by Kommersant, TASS, and Interfax