Better Control of Export-Import Trade

No one knows the size of the fraud embedded in the Russian export-import trade. In 2010, the Customs reported about $8 billion in transactions that broke currency control legislation, a number that is either too big or too small to second-guess about the overall problem.

On June 1, the Government submitted a bill to implement the system of routine exchange of information between different organisations involved in the facilitation of international trade, so that each government’s hand will know what the other is doing.

The new measures are designed to prevent illicit trade, repercussions of which regularly surface from the economic underworld - like the Bank of New York scandal in 1999 or a series of muck-raking stories about the North-West Customs dating back to 2001.

The new program will not become effective until 2013.