Bank of Russia Board of Directors
On March 25, 2022, the Board of Directors of the Bank of Russia decided:
In accordance with clause 1 of Decree of the President of the Russian Federation No. 126 dated March 18, 2022 “On Additional Temporary Economic Measures to Ensure the Financial Stability of the Russian Federation in the Sphere of Currency Regulation”, to establish the following amounts of individual transactions of residents and non-residents from March 27, 2022:
1. Prepayment or advance payment by residents in favor of foreign legal entities and individuals (hereinafter referred to as non-resident) is carried out within 30% of the amount of obligations stipulated under each contract (agreement) of a resident of the following type:
- Contracts, the terms of which provide for the provision of services by a non-resident.
- Contracts, the terms of which provide for the performance of work by a non-resident, the transfer by a non-resident of information, the results of intellectual activity, including exclusive rights to them.
2. The limitation on the amount of advance payment or advance payment provided for in paragraph 1 of this decision does not apply to the following contracts (agreements):
- Contracts (agreements) providing for the purchase from a non-resident and (or) the provision of services by a non-resident related to the purchase on the territory of the Russian Federation (outside the territory of the Russian Federation) of fuels and lubricants (bunker fuel), food, inventory and other goods ( with the exception of spare parts and equipment) necessary to ensure the operation and maintenance of vehicles, regardless of their type and purpose, en route or at intermediate stops or parking;
- Contracts (agreements) providing for the provision of financial services by non-residents to residents, including insurance and reinsurance contracts.
3. The purchase of foreign currency in the domestic foreign exchange market of the Russian Federation by non-resident legal entities that are foreign persons of states that commit hostile actions is carried out in the amount of 0 US dollars or other foreign currency.
4. The amount of transactions within 30% of the amount of obligations under the contracts (agreements) specified in paragraph 1 of this decision is determined using the official exchange rates of foreign currencies against the ruble established by the Bank of Russia on the date of execution by the authorized bank of residents' instructions for making prepayment or advance payment .
Bank of Russia Board of Directors
March 26, 2022