Russia might need to revisit idea of creating its own offshore zones - Medvedev

(Kazan, March 21, Tatar-inform). Russia might need to revisit the idea of creating offshore companies on its own territory in light of the situation in Cyprus, Prime Minister Dmitry Medvedev said at a congress of the Russian Union of Industrialists and Entrepreneurs (RUIE) on Thursday.

"If they chase us out like this everywhere, it's time to return to the topic of creating our own offshore companies on Russian territory in special jurisdictions where there will be special tax regimes," he said.

Then "maybe the money will return to us," Medvedev added.

"There are some bad special jurisdictions, as Cyprus has now become, and there are good ones, from which they don't chase anyone - for example, the Bahamas or the British Virgin Islands," he said.

"In general, every decent country has its own jurisdiction. We'll talk about it," Medvedev concluded.