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Putin signs decree to slash salaries of major Russian officials

Xinhua, March 6, 2015 Adjust font size:

Russian President Vladimir Putin signed a decree on Friday to reduce salaries of the country's major officials by 10 percent in response to economic hardships faced by the country, the TASS news agency reported.

The wage reduction targets Putin himself, Prime Minister Dmitry Medvedev, Prosecutor General Yuri Chaika, head of Investigative Committee Alexander Bastrykin as well as Cabinet members and Kremlin officials, according to the report.

The reduction of salaries of Putin, Medvedev, Chaika and Bastrykin starts from March 1 to Dec. 31 while that affecting others will come into effect on May 1 and last until the end of 2015, the Kremlin's press service said.

The salary cut is expected to be followed by similar steps to be taken by other government agencies and major State-run corporations of Russia, as the country is confronted with economic hardships due to sanctions imposed by the West for its alleged involvement in the Ukrainian crisis.

On Thursday, Andrei Isayev, vice speaker of Russian State Duma, or the lower house, called on top managers of Russian State-run companies to slash their salaries by at least a 10 percent.

"The current crisis is a fair occasion for them to doing so," Isayev said. Endi