The Central Bank allowed a number of transactions in relation to residents of friendly countries.
After the introduction of anti-Russian sanctions, the Government was forced to take a number of measures to contain the economic situation, a number of legislative acts were signed and some important powers were transferred to the executive bodies of state power.
So, in accordance with Decree of the President of the Russian Federation No. The Bank of Russia (aka the Central Bank of the Russian Federation) received the right until December 31 inclusive:
make decisions on approving the payment by a resident of the Russian Federation of a share, as well as a share or contribution in the authorized capital of a legal entity that is a non-resident;
allow making contributions by a resident of Russia to a non-resident under a joint activity agreement (simple partnership).
That is, the final word in the performance of such actions by a legal entity registered in the Russian Federation to a non-resident (that is, a foreign company) remains with the Central Bank of Russia. Then there were clarifications that the Central Bank has the right to soften its requirements. The Board of Directors of the Bank or its working groups are authorized to make specific decisions.
In accordance with the decision of May 27, 2022, published on the official website of the Central Bank of the Russian Federation, the restrictions imposed have been partially relaxed. Thus, these operations are allowed without prior individual approval of the Central Bank, subject to a number of important conditions:
the payment must be made to a company that is a resident of an exclusively friendly country. In the address of unfriendly states, such operations are still carried out strictly with the permission of the Central Bank of the Russian Federation;
the payment is made in the currency of a country friendly to Russia or in the national currency (in rubles);
the amount of the paid share (as well as a deposit or a share) or a contribution under a joint activity agreement should not exceed 10 million rubles (if the transaction is carried out in foreign currency, then in terms of rubles).
How to determine that the state is friendly? The Russian Foreign Ministry provided clarifications on this issue in March 2022, when the list of unfriendly states was updated. If a country does not appear on this list, it is friendly.
The updated list includes all the states of the European Union, the countries of the Old World that did not enter the EU (Monaco, Liechtenstein, Montenegro, etc.), a number of Asian countries close to US policy (Taiwan, Singapore, the Republic of Korea, Japan), as well as the UK , Australia and New Zealand, Canada, Norway, and of course the USA.
If the above conditions are not met, it is necessary to apply to the Central Bank of the Russian Federation on an individual basis and obtain permission.
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