Putin canceled the mandatory sale of foreign exchange earnings for exporters
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Russian President Vladimir Putin signed a decree allowing Russian exporters to transfer funds received from non-residents in foreign currency to the accounts of Russian suppliers without the obligatory sale of foreign exchange earnings. Document published on the official Internet portal of legal information.
The decree applies to Russian residents who, in accordance with foreign trade contracts, transfer goods received from Russian suppliers to non-residents.
The text of the document notes that the conversion and transfer of funds received from non-residents into a currency other than that specified in the supply agreement or can be carried out only with the prior consent of the Russian supplier.
February 28, 2022 Vladimir Putin signed decree on special economic measures in the face of Western sanctions. Among these measures was a ban on Russians and Russian companies to credit foreign currency to their accounts abroad.
June 6 Russian government canceled a categorical requirement to credit export earnings only to foreign currency accounts in Russian banks. However, at that time the requirements for the mandatory sale of foreign exchange earnings and its repatriation were retained. June 9 President canceled obligatory sale of half of foreign exchange earnings by exporters.
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