BARRIERS FOR DOING BUSINESS IN RUSSIA
11/03/2022
The general measures that have been taken recently are below:
- Sale of foreign exchange earnings
Russian companies are required to sell 80% of the foreign currency that comes into their account.
- Carrying out transactions
Russian companies, citizens and other residents now are able only with the permission of the government commission on foreign investment carry out some transactions:
- provide foreign companies, individuals and other non-residents with loans in foreign currency;
- transfer foreign currency to their foreign accounts or deposits;
- transfer money without opening a bank account using foreign electronic means of payment;
- issue credits and loans in rubles to foreign persons from countries that commit unfriendly actions. In addition, it is not able to buy real estate and securities from such persons;
- buy real estate or securities from other counterparties, if the owner of these assets acquired them after February 22 from persons from countries that commit unfriendly actions.
This document provides general information on the subject and does not constitute a legal opinion or recommendation. Consulting a specialist is recommended before taking an action. No claim arising from the content of or relating to this document can be asserted against NAZALI.