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In accordance with Federal Law No. 127-FZ of June 4, 2018, On Measures (Countermeasures) in Response to Unfriendly Actions of the United States of America and Other Foreign States, the President signed Executive Order establishing that foreign investors have the right to make investments in the Russian Federation without regard to the provisions of a number of executive orders issued in 2022 and 2023 in response to sanctions against the Russian Federation and unfriendly actions by certain foreign states and international organisations. The document further clarifies who qualifies as a foreign investor for the purposes of this Executive Order.

When making investments in the Russian Federation in accordance with this Executive Order, foreign investors transfer, including outside the Russian Federation, funds (in rubles or foreign currency) credited to Type “In” accounts. These accounts are to be opened by credit institutions and non-credit financial organisations specifically to facilitate foreign investments in the Russian Federation and to account for funds, as well as Russian securities. The regulatory framework governing Type “In” accounts shall be determined by a resolution of the Board of Directors of the Russian Federation Central Bank.

Foreign investments shall be made using funds credited to Type “In” accounts from accounts opened with foreign banks or other financial market entities located outside the Russian Federation, as well as using proceeds generated from such investments.

Operational requirements for credit institutions and non-credit financial organisations for the purpose of implementing this Executive Order shall be established by a resolution of the Board of Directors of the Russian Federation Central Bank.

The Central Bank of the Russian Federation is authorised to issue official clarifications regarding the application of this Executive Order.