OREANDA-NEWS. March 11, 2015. The Russian central bank opposes an idea to scrap a limit on share placements of Russian firms abroad, Interfax news agency reported on Tuesday, citing a source familiar with government discussions.

The idea to cancel the limit, according to which Russian firms can place abroad only up to 25 percent of their shares, was put forward by a business lobby group after President Vladimir Putin urged tycoons to bring their assets home.

The central bank was not immediately available to comment on the Interfax report.

The source told Interfax the Central Bank saw risks that Russian share transactions could flow on a far larger scale to foreign exchanges.

The idea offered by the lobby group - Russia's Union of Industrialists and Entrepreneurs - has been discussed in the government as it prepares a 'de-offshorisation' plan.

Looking to tame the economic turmoil at home, President Vladimir Putin has told Russian businessmen to 'de-offshore' their assets and authorities have introduced amendments which subjects offshore income to taxation.

The lobby group believes the lifting of the limit on share placements would make the regime of stock trading more flexible and, thus, more attractive for investors who agree to transfer their assets back home from offshore locations such as Cyprus.

Russian companies currently face difficulties with new share placements abroad as the country has been hit by Western sanctions over its role in the Ukraine crisis. It is also suffering from a steep fall in oil prices which led to a slump in the rouble currency.