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The President signed Executive Order On Amendments to Presidential Executive Order No. 79 On Imposing Special Economic Measures In Connection with the Hostile Actions of the United States of America in League with Other Foreign States and International Organisations, dated February 28, 2022.
Two changes are made to the Executive Order of February 28, 2022.
One of the changes concerns the mandatory sale of a portion of the foreign currency received by participants in foreign economic activity. The Executive Order of February 28, 2022, provided for the mandatory sale of 80% of the foreign currency amount credited to companies’ accounts with authorised banks on the basis of foreign trade contracts. The amendment provides for the sale of 50% of the currency received.
The other amendment authorises the Board of Directors of the Russian Federation Central Bank to set another deadline for residents participating in foreign trade activities to sell foreign currency than the one stipulated in the Executive Order of February 28, 2022.
May 24, 2022