VTB Bank’s Kostin Vehemently Defends Putin

The transcript discusses the global controversy surrounding offshore accounts, particularly in relation to a Panamanian legal firm and alleged involvement of senior figures like Vladimir Putin. It clarifies that there is no direct evidence linking Putin to these accounts. The discussion highlights Russia's lack of offshore zones, historical use of offshore accounts by Russian businesses for security and tax reasons, and the government's efforts to repatriate money. It also addresses the legality of offshore accounts for Russians and ongoing campaigns and misunderstandings about Russia and Putin.

What are the consequences for Russian individuals who declare their offshore assets as per the text?

How does the text describe the relationship between Mr. Putin and offshore business?