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The Government was instructed to clarify existing benchmarks and to establish additional benchmarks that are used to determine oil prices for the purposes of taxing oil and gas companies and also to reduce the discount applied to global oil prices.

In addition, the Government was instructed to submit proposals seeking to cut interest rates on long-term credit (loans) with account taken for how the structure of the Russian Federation state lending affects such rates.

In conjunction with the Bank of Russia, the Government was instructed to ensure a monthly limit in the amount of one billion US dollars or less for the purchase by residents of foreign currency on the Russian Federation domestic foreign exchange market for the purpose of subsequent crediting of foreign currency to accounts opened with the banks that are based outside Russia’s borders for carrying out settlements under transactions that are made under permits issued by the Government Commission on Monitoring Foreign Investment in the Russian Federation, the Bank of Russia or the Finance Ministry, determining, if need be, a list of instances where this limit does not apply.

In conjunction with the Bank of Russia, the Government was instructed to monitor the mortgage lending market and to take additional measures to support mortgage lending as necessary.