The Government of the Russian Federation has approved a list of foreign states and territories that commit non-amicable actions against Russia, its legal entities and individuals.
The list includes the following countries:
A more detailed list of “non-amicable” countries is indicated in the Order No. 430-r approved by the Government of the Russian Federation dated March 5, 2022.
This document was developed in order to implement the Decree No. 95 of the President of the Russian Federation dated March 5, 2022. According to the text of the Decree, the Russian Federation, its legal entities and individuals, as well as municipal formations have the right to repay their obligations on credits, loans and financial instruments to foreign lenders in the currency of the Russian Federation. To do this, the subjects of the Russian Federation can send an application to a Russian bank to open a special account of type “S” in the name of a foreign lender and transfer payments to it in ruble equivalent at the exchange rate of the Central Bank of the Russian Federation on the day of the payment. The “S” type account mode is established by a decision of the Board of Directors of the Central Bank of the Russian Federation.
The new settlement procedure applies to payments exceeding 10,000,000 rubles per month (or a similar amount in foreign currency equivalent).
Acsour recommends that you pay special attention to carrying out operations to repay obligations to resident companies of foreign countries included in the specified List. Our specialists are ready to advise you on this issue and help in carrying out the relevant settlements.