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The President signed Executive Order On Provisional Procedures for Fulfilling Financial Obligations to Certain Foreign Creditors in the Transport Sector.
The Executive Order supplements measures set forth in the Presidential Executive Order No. 95 of March 5, 2022, On Temporary Procedures for Meeting Loan Obligations to Certain Foreign Creditors.
Under the Executive Order, resident companies shall perform their obligations to make rental, lease or other payments under the contracts to buy, rent or lease aircraft, auxiliary power units and aircraft engines in favour of foreign creditors who are foreign persons connected with foreign states which have engaged in unfriendly actions against the Russian Federation, Russian legal entities or individuals (including when such foreign persons are citizens of these states, or as entities registered in these countries, carry out most of their business there or derive most of their profit from their activity in these countries), or persons controlled by said foreign persons, regardless of their place of registration (except when registered in the Russian Federation) or the place of their primary business, as per paragraphs 2–9 of the Presidential Executive Order No. 95 of March 5, 2022, On Temporary Procedures for Meeting Loan Obligations to Certain Foreign Creditors.
The Executive Order sets forth the conditions under which these obligations for making rental, lease or other payments shall be deemed as duly fulfilled.
The Government of the Russian Federation shall have the authority to set procedures other than those set forth in this Executive Order for performing obligations to foreign creditors for making rental, lease or other payments under contracts to buy, rent or lease aircraft, auxiliary power units and aircraft engines.
The Government Commission on Monitoring Foreign Investment in the Russian Federation shall have the authority to issue permits for fulfilling obligations to foreign creditors to make rental, lease or other payments in execution of contracts to buy, rent or lease aircraft, auxiliary power units and aircraft engines without having to follow the provisions set forth in paragraphs 2–9 of the Presidential Executive Order No. 95 of March 5, 2022, On Temporary Procedures for Meeting Loan Obligations to Certain Foreign Creditors.
For the purpose of this Executive Order, foreign states engaged in unfriendly actions against the Russian Federation, Russian legal entities or individuals shall mean states listed by the Government of the Russian Federation as per Paragraph 14 of the Presidential Executive Order No. 95 of March 5, 2022, On Temporary Procedures for Meeting Loan Obligations to Certain Foreign Creditors.
April 1, 2022