The Russian government issued on Monday a list of countries "taking unfriendly actions against Russia, Russian companies, and citizens," referring to the economic sanctions introduced amid the Russia-Ukraine war.
According to a decree published on the government's website, the list includes Albania, Andorra, Australia, Great Britain, including Jersey, Anguilla, British Virgin Islands, Gibraltar, EU member states, Iceland, Canada, Liechtenstein, Micronesia, Monaco, New Zealand, Norway, South Korea, San Marino, North Macedonia, Singapore, US, Taiwan, Ukraine, Montenegro, Switzerland, and Japan.
The government allowed Russian citizens and companies, the state itself, its regions and municipalities that have obligations in foreign currency to foreign creditors from the list of unfriendly countries to pay back their debts in rubles.
For that, a debtor may ask a Russian bank to create a special ruble account "C" in the name of a foreign creditor and transfer payments to it in ruble equivalent at the exchange rate of the central bank on the day of payment.
The new order is temporary and is valid to payments exceeding 10 million rubles (around $72,202).
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The Russian government has temporarily allowed nationals and Russian entities to pay back their debts to foreign creditors from the list of hostile countries in rubles.
ReplyDeleteThe move was decreed by President Vladimir Putin on Saturday in response to financial sanctions imposed on Russia by the West after it launched a military operation in neighboring Ukraine.
The government said that "Russian citizens and companies as well as the state, regions and municipalities that have obligations in foreign currencies to foreign creditors from the list of unfriendly nations can pay them back in rubles."
A debtor will need to transfer money in rubles equivalent to a special account created with a Russian bank in the name of a foreign lender. The procedure is reserved for payments of more than 10 million rubles.