Russia adds Monaco to its list of “unfriendly” countries
The Principality is now considered a “hostile country”, in the same way as France, the European Union or the United States.
Tone up. The Russian government comes from a list of foreign states and territories deemed “unfriendly” towards the Kremlin, Russian businesses and citizens. Among the states mentioned, Monaco as well as, among others, France, the United Kingdom, the United States, Canada, Switzerland, Australia, Japan and EU member states.
The countries on this blacklist will face economic sanctions, in response to the decisions taken so far against Russia. Concretely, this means that Russian individuals or companies could repay their debts to the targeted countries in ruble. Or, the value of the Russian currency would have fallen by 45% since January, according to the government. A depreciation even of “history” by economists.
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The decision was taken following a presidential decree. According to this “provisional procedure”, any debtor will now be able to ask a Russian bank to create a special ruble account in the name of the foreign creditor. Refunds will be transferred in ruble equivalent, according to the Central Bank exchange rate on the date of payment.
This measure applies to payments exceeding 10 million rubles per month (i.e. 67,000 euros), or a similar amount in equivalent in a foreign currency.