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Amendments to federal law on currency regulation and control

April 3, 2018

The President signed the Federal Law On Amending the Federal Law On Currency Regulations and Currency Control and Article 15.25 of the Russian Code of Administrative Offences.

The Federal Law requires that residents repatriate money received from nonresidents under loan agreements to their accounts in authorised banks in order to prevent the illegal movement of money outside the country under such agreements.

The Federal Law also envisages administrative liability for a resident’s failure to repatriate foreign currency or Russian currency under loan agreements.

April 3, 2018