Russia Considers Special Bank Accounts for Utility Payments

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The Russian Ministry of Construction is pursuing a reform to how electricity bills are recorded and handled on behalf of Deputy Prime Minister Marat Khusnullin. This development was reported by Newswith in reference to a ministry letter sent to the country’s top executive authorities. The proposed change would create a dedicated accounting framework that requires the mandatory accumulation of consumer payments for utilities into a special bank account tied to each building where the residents live. The intent behind this approach is to introduce a centralized and auditable flow of funds, rather than leaving them in the hands of the general accounting processes used by management entities. The ministry argues that this system would improve clarity and accountability in the management of residents’ utility payments and reduce the risk of funds being diverted for other purposes. (Newswith)

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