The government will be able to issue permits for transactions with sanctioned persons

Russian President Vladimir Putin signed a decree giving the government the power to issue temporary permits for transactions with persons who are under Russian counter-sanctions. Corresponding document published on the Legal Information Portal.

“Give the Government of the Russian Federation the authority to issue temporary permits for certain transactions (operations, actions) with persons under sanctions,” the document says.

This amendment is included in the decree on retaliatory economic measures in connection with the unfriendly actions of certain foreign states, which Putin signed on May 3. The decree also applies to legal relations that have arisen since that date.

Document adopted in May forbids to authorities, individuals and organizations under the jurisdiction of the Russian Federation, to make transactions with foreign individuals and legal entities under Russian sanctions, to fulfill obligations to them under completed transactions (including under concluded foreign trade contracts), to carry out financial transactions, beneficiaries under who are the sanctioned persons. The law also prohibits the export of products and raw materials that were produced or mined in Russia outside the country for sale by persons subject to retaliatory restrictions of the Russian Federation.

After the start of Russia’s special operation in Ukraine, Western countries imposed new sanctions on Russian companies, businessmen and the country’s leadership. The states banned the export of some goods and technologies to Russia, and also closed their airspace to Russian aircraft. Some foreign companies have begun to suspend their activities in Russia due to a special operation, sanctions and problems with logistics. EU countries have already introduced nine packages of sanctions.