The list includes the United States and Canada, the EU states, the UK (including Jersey, Anguilla, the British Virgin Islands, Gibraltar), Ukraine, Montenegro, Switzerland, Albania, Andorra, Iceland, Liechtenstein, Monaco, Norway, San Marino, North Macedonia, and also Japan, South Korea, Australia, Micronesia, New Zealand, Singapore, and Taiwan (considered a territory of China, but ruled by its own administration since 1949).
The countries and territories mentioned in the list imposed or joined the sanctions against Russia after the start of a special military operation of the Russian Armed Forces in Ukraine.
The government noted that according to this decree, Russian citizens and companies, the state itself, its regions and municipalities that have foreign exchange obligations to foreign creditors from the list of unfriendly countries will be able to pay them in rubles. The new temporary procedure applies to payments exceeding 10 mln rubles per month (or a similar amount in foreign currency).
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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.