Business
May 30 2013 - 00:05

Andrei Guryev Leaves Federation Council

Billionaire Andrei Guryev has left his position as Federation Council senator in response to the Kremlin's new anti-corruption laws.

Guryev, whose wealth was estimated at $4 billion by Forbes magazine this year, served in the upper house of parliament for more than 11 years.

He said that he wishes to concentrate on his role as chairman of PhosAgro fertilizer company, before adding that his decision was linked to the new laws that prohibit state officials from having foreign bank accounts and securities, Interfax reported Wednesday

Valentina Matvyenko, the current chair of the Federation Council, said that Guryev had made the decision himself.

Guryev previously chaired the board of Apatit mining company, which became one of his core assets.

Seven senators and a number of deputies with business ties have already left the parliament over the anti-corruption legislation.

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