Putin allowed to execute currency state guarantees in rubles – Kommersant

Russian President Vladimir Putin signed decree on the execution of currency state guarantees in rubles. According to the document, state guarantees will be able to be executed in rubles at the request of the beneficiary, and without it, if there is no possibility of execution in foreign currency. Payments will be made at the exchange rate of the Central Bank on the date of the request.

In February 2023, the Ministry of Finance prepared draft presidential decree on the payment of state guarantees provided in foreign currency in rubles. The department noted that Russia’s ability to fulfill foreign exchange obligations is limited due to the geopolitical situation. These changes are needed to avoid technical defaults due to the inability to transfer the currency.

Olesya Pavlenko