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The Executive Order was signed to supplement the measures envisaged by Presidential executive orders No. 79 of February 28, 2022, On Imposing Special Economic Measures in Connection with the Hostile Actions of the United States in League with Other Foreign States and International Organisations; No. 81 of March 1, 2022, On Additional Temporary Economic Measures to Ensure the Financial Stability of the Russian Federation; No. 95 of March 5, 2022, On the Temporary Procedure for Meeting Obligations to Certain Foreign Creditors; and No. 322 of May 27, 2022, On the Temporary Procedure for Meeting Obligations to Certain Right Holders.

The Executive Order establishes a temporary procedure for transactions involving acquisition of exclusive rights to intellectual property or means of identification between acquirers and right holders, as well as for the performance and/or enforcement of monetary obligations under such transactions.

Transactions are to be carried out on the basis of a permission issued upon request from the right holder, acquirer or their representatives by the Government Commission on Monitoring Foreign Investment in the Russian Federation.

Remunerations or other payments related to the transaction will be transferred to a special O-type ruble account in an authorised bank, to be opened by the acquirer in the name of the right holder or foreign creditor (for the purpose of transferring funds to meet obligations under guarantees or pledge). The special account can be debited in favour of the right holder (foreign creditor) only with the permission of the Government Commission.

The provisions of the Executive Order do not apply to transactions involving acquisition of rights to scientific, literary or artistic works, performance results, phonograms, messages by terrestrial or cable broadcasting organisations, or transactions not exceeding 15 million rubles.