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Vladimir Putin signed the Executive Order On a Special Procedure for Carrying Out Settlements between Certain Resident Legal Entities Implementing Foreign Economic Activity.
The Executive Order was signed to create conditions for settlements between certain resident legal entities implementing foreign economic activity and pursuant to Article 42 of Federal Law 127-FZ On Measures (Countermeasures) Against Unfriendly Actions of the United States of America and other Foreign Countries dated June 4, 2018.
Under the Executive Order, resident legal entities (Russian exporters) that directly transfer goods received from other resident legal entities (Russian suppliers) to non-residents under foreign trade agreements (contracts) concluded with them under supply agreements concluded in pursuance of intergovernmental agreements, are granted the right to transfer funds in foreign currency received from non-residents to the accounts of Russian suppliers in authorised banks without the obligatory sale of foreign currency.
February 6, 2023