Banking and finance
Alerts
On 23 March 2024, Federal Law No. 50-FZ was published, which provides for changes in the operations of dealers and forex dealers.
19 March 2024, the Russian President's Decree No. 198 was published, which permits holders of Russian securities to receive funds from type "S" accounts of a foreign nominal holder and a foreign payment agent.
On 11 March, Federal Law No. 45-FZ came into force whereby it is permitted to use digital rights as a means of payment in foreign trade.
A new procedure that is established in Regulation No. 210-I, came into force on 11 March and governs how the Central Bank of Russia audits issuers and participants in corporate relationships.
New amendments to Federal Law No. 127-FZ “On measures impacting (counteracting) hostile actions of the United States of America and other foreign states” dated 4 June 2018 have come into force.
On 30 April 2020 the Praesidium of the Russian Supreme Court approved its Review No. 2 of certain issues of case law associated with the application of the legislation and measures on preventing the spread of the new coronavirus infection (COVID-19) in the Russian Federation (“Review No. 2”).
Pepeliaev Group advises that, starting from 1 June 2018, the Law on Financial Transactions[ has come into force, which considerably has expanded the opportunities of using the escrow mechanism.