President Vladimir Putin signed a decree on the procedure for paying debts to foreign creditors from states that have committed “unfriendly actions” against Russia. Such countries will be determined by the government within two days. The head of state allowed the payment of debts to foreign creditors in rubles, regardless of whether they committed “unfriendly actions.”
The decree applies to the fulfillment of obligations in the amount of more than 10 million rubles. per month or equivalent in foreign currency at the rate of the Central Bank on the first day of each month.
The document defines the procedure for fulfilling obligations to foreign creditors, including those who are not associated with the states that have committed “unfriendly actions.” “Establish that the obligations named in paragraph 1 of this Decree are recognized as duly fulfilled if … they are fulfilled in rubles in an amount equivalent to the value of obligations in foreign currency … to foreign creditors not named in paragraph 1 of this decree,” reads decree. Paragraph 1 of the decree establishes a temporary procedure for paying obligations by Russia, regions, municipalities and residents to foreign creditors who are associated with a foreign state that has committed “unfriendly actions” (including if they have citizenship of this country).
A number of countries have been imposing sanctions against Russia since February in response to the military operation in Ukraine. They affected the Central Bank, financial institutions, companies from various fields, Russian entrepreneurs and officials.
How the authorities plan to mitigate the consequences of sanctions – in the material “Kommersant” “The package did not take long.”