President Vladimir Putin signed a decree on the repatriation of foreign currency by exporters
Russian President Vladimir Putin signed a decree “On the repatriation of foreign currency and currency by residents – participants in foreign economic activity.” Document published on the official Internet portal of legal information.
The decree, among other things, allows the Government Commission to impose restrictions on the transfer of foreign currency by exporters to foreign accounts. In addition, we are talking about restrictions that may apply to transfers without opening a bank account – “using electronic means of payment provided by foreign payment service providers.”
The document, as indicated, was adopted in addition to the measures provided for by the decrees “On the Application of Special Economic Measures in Connection with the Unfriendly Actions of the United States of America and Adhering Foreign States and International Organizations”, “On Additional Temporary Economic Measures to Ensure the Financial Stability of the Russian Federation ” and “On the temporary procedure for fulfilling obligations to certain foreign creditors”.
Earlier this month, Putin signed a decree to remove the requirement for exporters to sell half of their hard currency earnings. Now, according to the document, the share of the sale will have to be determined by the government commission for the control of foreign investment in Russia. On June 10, the commission canceled the requirement.
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