The government has relaxed the requirement for foreign exchange transactions.

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On August 22, the Commission of the Government of the
Russian Federation for the control of Foreign Investments decided to remove the
restriction on the crediting of dividends or the distribution of profits by
shares and shares in Russian LLC and JSC, cooperatives to the settlement
accounts of foreign banks.

Residents of the Russian Federation were allowed to
carry out currency transactions under foreign currency loan agreements against
residents of unfriendly countries until October 01, 2022.

A loan can be provided that a non—resident is not a
person from an unfriendly country and does not control such a person. There are
no requirements for the place of registration of such borrowers.

Recall that the Government of the Russian Federation
on March 05, 2022, the government approved a list of unfriendly countries,
including Cyprus, Japan, Korea and Australia, and New Zealand, all European
countries except Serbia

Special currency control rules apply to residents of
unfriendly countries, which are humanized every month, despite the geopolitical
situation in the world, as evidenced by the Resolution of the Russian
Federation under consideration.



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