Decree N 95 established that from March 5, 2022, in order to fulfill obligations on loans (loans) and financial instruments to foreign creditors from unfriendly countries and entities controlled by them in the amount of more than 10 million rubles. (or a similar amount in foreign currency equivalent) in a calendar month, the debtor must open a type «C» account in a Russian bank on the name of a foreign creditor and fulfill obligations through this account. The Central Bank of the Russian Federation clarified that obligations should be understood as the total amount of all obligations of the debtor to all foreign creditors in a calendar month. If the amount of such obligations exceeds 10 million rubles per calendar month, then the performance by the debtor of obligations to any foreign creditor requires compliance with the procedure established by the Decree, regardless of the amount due to this foreign creditor.
The Central Bank of the Russian Federation clarified some issues on the return of loans to unfriendly countries
Decree N 95 established that from March 5, 2022, in order to fulfill obligations on loans (loans) and financial instruments to foreign creditors from unfriendly countries and entities controlled by them in the amount of more than 10 million rubles. (or a similar amount in foreign currency equivalent) in a calendar month, the debtor must open a type «C» account in a Russian bank on the name of a foreign creditor and fulfill obligations through this account. The Central Bank of the Russian Federation clarified that obligations should be understood as the total amount of all obligations of the debtor to all foreign creditors in a calendar month. If the amount of such obligations exceeds 10 million rubles per calendar month, then the performance by the debtor of obligations to any foreign creditor requires compliance with the procedure established by the Decree, regardless of the amount due to this foreign creditor.
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