MOSCOW, June 24 (RIA Novosti) – Russian authorities should use English law and language at the international financial center, which is to be set up in Moscow, a Russian deputy finance minister said on Thursday.
“This is essential in establishing a financial center. As far as the political decision is concerned, it is hard to imagine that elements of English law will be introduced in Moscow,” Sergei Storchak said.
The idea of making Moscow a global financial hub was voiced by Russian President Dmitry Medvedev in 2008 at the St. Petersburg’s Economic Forum. The move aims at strengthening the ruble’s position as a reserve currency.