Russian law bans foreign accounts

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MOSCOW, May 7 (UPI) -- Russian state employees will be fired if they don't move their money out of foreign banks within three months, a law signed by President Vladimir Putin says.

Putin signed a law Tuesday that calls on authorities ranging from regional governors to Putin himself from holding money in foreign banks. Authorities with money in foreign banks have three months to withdraw the funds. Those who don't will be fired, state news agency RIA Novosti reports.

The bill as proposed by Putin in February extended to real estate, though the measure Tuesday lifted that ban. Putin's administration described the law and part of an anti-corruption measure.

A controversial measure signed by Putin labels non-governmental organizations that receive money from overseas as foreign agents.

Putin's administration has come under fire for allegedly backing repressive policies since he secured a third non-consecutive term in office last year. His critics described the latest move as part of a broader nationalization campaign.

Police said about 7,000 people turned out late Monday on the anniversary of Putin's inauguration. Opposition leaders said the number was closer to 50,000, the BBC reports. Last year's protests turned violent and several of Putin's opponents have been imprisoned.