Home The Russian Federation tightens the rules for the departure of companies from unfriendly countries

The Russian Federation tightens the rules for the departure of companies from unfriendly countries

by Alex Johnson
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The Deputy Minister of Finance of the Russian Federation Alexei Moiseev in January of this year said that changes in the context of such transactions are not planned.

Russian Finance Minister Anton Siluanov said that the Government Commission on Foreign Investments has amended the rules for approving transactions with residents of “unfriendly” countries regarding the sale of their Russian assets, the correspondent of The Moscow Post reports.

So, now the amount of the mandatory payment to the budget has been increased to 35% of the transaction amount, and a mandatory discount is established to an independent assessment of the market value of up to 60%.

“From 15% to 25% at once, plus 5% during the year and another 5% over the next year, total 35%. And the discount for foreigners increases from 50% to 60%,” he said.

Recall that in March 2022, presidential decree No. 81 established a special procedure for conducting transactions with residents of “unfriendly” countries. Permissions for such transactions are issued by the Government Commission on Foreign Investments, while a special subcommission was created for consideration and decision -making. The decree will be valid until December 31, 2025.

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This decree applies to strategic enterprises, energy companies, banks with foreign participation, as well as to service and industrial organizations in the field of fuel and energy complex, including users of subsoil plots and products on the division of products, which includes gold, nickel, diamonds and metals of the platinum group.

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