New Exemptions from the Scope of Decree No. 618
On July 10, 2026, the Ministry of Finance of the Russian Federation issued Official Clarification No. 5 ("Clarification No. 5") on the application of Decree of the President of the Russian Federation No. 618 dated September 8, 2022, "On the Special Procedure for Carrying Out (Executing) Certain Types of Transactions (Operations) Between Certain Persons" ("Decree No. 618").
According to Clarification No. 5, the transaction procedure established by Decree No. 618 does not apply in the following cases:
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The establishment, modification, or termination of rights in respect of a limited liability company resulting from the adoption by the general meeting of resolutions to amend the company's charter providing for the formation of the company's governing bodies, the determination of (or changes to) their competence, or the termination of their powers;
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A change in the size of a participant's share in the charter capital of a limited liability company resulting from the cancellation, within the period established by law, of a share or part of a share held by the company that has not been distributed or sold, and the reduction of the charter capital by the nominal value of such share or part thereof.
Accordingly, resolutions of the general meeting of participants amending the charter (with respect to the reallocation of powers and the composition of the company's governing bodies) may be adopted and registered in the ordinary manner, without the additional procedures or restrictions provided for by Decree No. 618.
Likewise, procedures triggered by the provisions of Federal Law No. 14-FZ dated February 8, 1998, "On Limited Liability Companies" in connection with a company's cancellation of unsold or undistributed shares and the reduction of its charter capital by their nominal value do not require compliance with the special procedure established by Decree No. 618. Given that the shares held by the company are not taken into account in voting, and that their cancellation does not result in any change in the extent of “unfriendly” shareholders’ rights to manage the company’s business, their exclusion from the scope of counter-sanctions regulations appears justified.
Bank of Russia Clarification on the Procedure for Performing Obligations Under Certain Deposits
On July 14, 2026, the Bank of Russia issued Official Clarification of the Bank of Russia No. 1-OR dated July 14, 2026 (the "Clarification") "On the Application of Decree of the President of the Russian Federation No. 95 dated March 5, 2022, 'On the Temporary Procedure for Performing Obligations to Certain Foreign Creditors,' in the Performance of Obligations Under Bank Deposits" ("Decree No. 95").
As a reminder, the President of the Russian Federation had previously extended the scope of the temporary procedure set out in Decree No. 95 to bank deposits.
According to the Clarification, the temporary procedure established by Decree No. 95 does not extend to obligations under bank account agreements, including correspondent account agreements. In addition, the provisions of Decree No. 95:
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do not prohibit the extension (renewal) of a bank deposit agreement, including by way of making corresponding amendments to the bank deposit agreement; however, the obligation to pay interest, including upon extension of the bank deposit agreement, must be performed in accordance with the temporary procedure established by Decree No. 95;
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do not allow obligations under a bank deposit agreement with a foreign creditor to be discharged by transferring funds to a bank account (including a correspondent account) of the foreign creditor other than a type "C" account, and/or to a bank account (including a correspondent account) of a third party, without obtaining the authorization provided for by Decree No. 95;
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do not provide for the application of the temporary procedure for the performance of obligations before the obligations under bank deposits fall due, nor do they provide for a credit institution reclassifying bank deposits it has previously opened as type "C" bank deposits.
At the same time, the Clarification establishes that the amount of a credit institution's obligations under bank deposit agreements should be determined based on the amount of obligations owed to each depositor per calendar month. This represents a significant departure from the general guidelines previously issued regarding Decree No. 95, under which the monthly limit of 10 million rubles, which did not require compliance with a special procedure, was determined based on the aggregate total of all payments made by the creditor to “unfriendly” debtors, rather than on a per-debtor basis.