foreign investors can dispose of income received in Russia – Kommersant

Dmitry Birichevsky, director of the Department of Economic Cooperation of the Russian Foreign Ministry, said that foreign investors can dispose of the income received in Russia, observing certain formalities. According to him, the rules governing the sale of assets allow maintaining stability in the country.

“Having completed certain formalities, foreign investors have the opportunity to dispose of the income received in Russia. The Russian side is showing a flexible approach to coordinating relevant operations,” he said in an interview. “RIA News”.

According to Mr. Birichevsky, the rules that foreign investors must comply with when selling their assets and withdrawing company profits are aimed at stabilizing the macroeconomic situation in Russia. He noted that such norms prevent violations of economic processes and protect the rights of Russian citizens working at such enterprises.

In September 2022, Russian President Vladimir Putin signed a decree prohibiting companies from unfriendly countries from independently managing shares in Russian companies. Such transactions are approved by a special government commission.

Among requirements, which must be met in order to approve the sale of Russian assets – providing a discount to an independent assessment of the market value of at least 50%, as well as an installment plan for one to two years. As an alternative or addition, unfriendly businessmen can voluntarily contribute at least 10% of the transaction amount to the budget.