Date: 4 months ago   Category: Economy

The Ministry of Finance has suggested to change currency regulation for minimization of effect of sanctions — Rambler News Service


The Ministry of Finance has prepared the bill of introduction of amendments to the law "On Currency Regulation and Currency Control" which purpose is minimization of consequences from sanctions, follows from the explanatory note to the bill which is published on the portal of drafts of standardly legal acts. "The purpose of the bill is minimization of consequences of introduction by the foreign states, the state associations and (or) the unions and (or) the public (interstate) institution of the foreign state or the state association and (or) the union concerning certain residents of measures of restrictive character (further – measures of restrictive character) and creating favorable conditions for implementation by such residents of foreign economic activity", - it is said in the explanatory note to the document. So, the bill offers to give the chance to the resident legal persons who have fallen under sanctions of the foreign states at implementation of the foreign trade activity to carry out without use of bank accounts in authorized banks settlings with nonresidents in foreign currency and/or rubles on condition of implementation of payments for the goods transferred to nonresidents, the works rendered to them services, information transferred to them and results of intellectual activity, including the exclusive rights to them to accounts of the third parties performed for them (legal entities – residents and/or legal entities – nonresidents) in the banks located outside Russia or performance of obligations of such residents before nonresidents in other form according to business customs and conditions of prisoners between such residents and nonresidents of the foreign trade contracts (contracts). Besides, the document offers to allow the residents who have fallen under sanctions, not to enlist foreign currency and currencies of the Russian Federation into the accounts in authorized banks in some cases.

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