Putin proposed amnesty for businesses on forced currency violations
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Russian President Vladimir Putin proposed an amnesty for businesses for forced currency violations committed during the period of the moratorium on fines. This is necessary to avoid retrospective prosecution, the president explained.
“I propose to declare an amnesty for forced currency violations that were committed during the moratorium,” Mr. Putin said during the plenary session of the St. Petersburg International Economic Forum.
In addition, according to him, the moratorium on fines for violation of currency laws in the event of unfriendly actions by other countries will be extended to 2024. The President also said that he considers it right to meet Russian business halfway in this matter.
A moratorium on fines was introduced in February 2022. It is applied if the requirements of currency control were not met due to the imposed sanctions. Before the introduction of the moratorium, violators were threatened with an administrative fine: for legal entities – 75-100% of the amount of illegal currency transactions, for officials – from 20 thousand to 30 thousand rubles.
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