Russian Federation

Russian Federation

Introduces obligatory ruble payments for residents’ financial obligations

05 Mar 2022

On 5 March 2022, the President of the Russian Federation issued Decree No.95. It establishes a temporary procedure for the fulfillment by residents in the Russian Federation of obligations under loans to foreign creditors from States that have adopted sanctions against Russia. The debts denominated in foreign currency and exceeding 10 million rubles per month can be repaid in Russian rubles on special bank accounts in Russia opened in the creditor’s name.