Interest on a monetary obligation (Article 317.1 of the Russian Civil Code)

Download PDF Pepeliaev Group advises that starting from 1 June 2015 article 317.1 of the Civil Code regarding interest on a monetary obligation has come into effect.

According to the article, a creditor under a monetary obligation may demand that interest be paid by the debtor on the principal amount of the debt over the period when the debtor used the money.