(Adds quotes, context)
MOSCOW, April 8 Russian companies listed on
foreign stock exchanges should consider re-listing in Moscow,
First Deputy Prime Minister Igor Shuvalov was quoted as saying
His remarks are the latest in a campaign backed by President
Vladimir Putin to encourage companies to re-register in Russia
and use local rather than international capital markets.
"Now all issuers need to approach this issue seriously, even
those which are not connected with the privatisation process,
even those which have gone through the process of listing and
issuance on the New York exchange, London and other exchanges,"
Interfax news agency quoted Shuvalov as telling reporters after
a meeting of senior members of the government near Moscow.
"They need to consider the possibility of re-registering on
the Moscow Exchange. This is a question of economic security for
them," he said.
His comments follow Western threats to tighten sanctions on
Russia over the Ukraine crisis following an initial round, which
mainly hit individuals, over the annexation of the Crimea
region. The threats have caused concern in Moscow about the
security of corporate assets abroad.
Putin said last year that privatisation deals should take
place on the local exchange, a contrast with the previous
practice when major state companies were floated on the London
The president has also been pushing for so-called
"deoffshorisation" of the Russian economy, whereby companies
with offshore entities re-register them in Russia and pay taxes
In a separate meeting on Tuesday, Putin called for
"substantial" action to improve Russia's business climate,
suggesting he is concerned that flagging investment is hurting
an already weakened economy.
(Reporting by Jason Bush, editing by Timothy Heritage)