Russian Federation

Russian Federation

Bans branches of foreign banks

14 Mar 2013

On 14 March 2013, the Russian Federation passed amendments to certain federal laws in order to ban the opening of branches of foreign banks in the territory of Russia. The changes do not concern Russian subsidiaries of foreign banks and of representative offices of foreign banks.

Nature of measure:
  • Entry restriction
Type:
  • Entry and establishment (Ownership and control)
Industry:
  • Services (Financial and insurance activities)
Inward FDI:
No
Outward FDI:
No
Sources: