Government Commission Authorized Execution of Several Transactions with Foreigners

19 April 2023
Kirill Evstifeev
Legal Trainee
Julia Korablyova

On 30 March 2023 and 3 April 2023 the Subcommission of the Government Commission for the Control of Foreign Investment in the Russian Federation published acts authorizing some transactions (operations) with foreigners, which previously were restricted.

According to the Extract from the minutes of the meeting of the Subcommission dated 20 March 2023 No. 148/11, residents up to 30 June 2023 inclusively are entitled to carry out foreign currency transactions in favor of foreigners under loan agreements. Also it states that such exception does not apply to unfriendly foreigners, as well as to foreigners under the control of foreigners of unfriendly states.

The Subcommission also published an extract from the minutes of its meeting dated 22 March 2023 No. 149/12, allowing credit organizations to provide individuals of unfriendly states with ruble credits and loans, the obligations under which are secured by a mortgage. Thus, this document cancels the prohibition on the execution of the above transactions, introduced earlier by subparagraph “a” of paragraph 1 of Presidential Decree No. 81 dated 01 March 2022. We described these restrictions in our review earlier.

We suppose to expect more regulatory liftings, which will broad the list of authorized transactions with the foreign persons, in the nearest future.