From April 1, 2022, the Board of Directors of the Bank of Russia established a regime for bank accounts…

From April 1, 2022, the Board of Directors of the Bank of Russia established a regime for bank accounts of type “K” for settlements with foreign buyers for natural gas in accordance with paragraph 10 of Decree of the President of the Russian Federation dated March 31, 2022 No. 172 (hereinafter referred to as Decree No. 172).

An authorized credit organization opens, upon their applications, bank accounts of type “K” in rubles and foreign currency to foreign buyers.

Funds in foreign currency under contracts for the supply of natural gas are credited to a bank account of type “K” in this currency.

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To sell foreign currency, the funds of a foreign buyer, on his behalf, are debited from his type “K” account in foreign currency, conversion occurs in accordance with the procedure defined in paragraph 6 of Decree No. 172, and based on the results of the conversion, funds in rubles are credited to a bank account of type “K” » in rubles.

Funds in rubles are written off from a bank account of type “K” in rubles to the accounts of Russian natural gas suppliers.

Other debits and credits to type “K” bank accounts, such as erroneously directed funds or payment for services of an authorized credit institution, are carried out in accordance with the standard conditions of the bank account.