Russia will pay its debts in rubles
Obligations to service and withdraw government securities of Russia will be fulfilled by the Ministry of Finance of Russia in full, reported Sunday ministry. However, it will be guided by current tastes in payout options.
Who gets paid and how
Residents
It is noted that payments on Russian government securities denominated in foreign currency using residents will be in rubles In accordance with the calculation of the equivalent for the calculation, the preparation of settlement documentation, taking into account the peculiarities, the preparation of the Decree of the President of the Russian Federation No. 95 of 05.03.2022.
Non-residents
The actual opportunity provided for the use of non-residents will be from the Assembly in relation to Russia and exemptions taken under licenses and permits. If it is impossible to make a payment, restrictions apply. The Government of the Russian Federation will consider payments in the manner prescribed by paragraph 6 of the same decree.
What’s In Specified
On March 5, the President of Russia was signed decree on the temporary procedure for fulfilling obligations to certain foreign creditors.
Documents on fees for the Russian Federation, subjects, associations, residents of the procedure for fulfilling obligations to foreign states, which are concluded in relation to the Russian Federation for unfriendly actions.
We are talking about debts in the maximum amount of 10 million rubles. in a calendar month, or in an amount equivalent to the equivalent of this amount in foreign currency at the official exchange rate of the Central Bank, established on the 1st day of each month.
In order to fulfill its obligations, the debtor shall act with a Russian credit institution to open an application in the name of a foreign creditor of type “C”, intended for settlements under these obligations.
Account type “C”
This accounting account is in rubles, and the order of consideration comes from the Central Bank, the official publication. The lender is overpriced in the credit institution in which such an account is opened, with an attachment on the collection of funds in the manner, mass character of the Central Bank of the Russian Federation or the Ministry of Finance of the Russian Federation.
What does it mean
Bank of Russia combinedthat are formed – residents of the Russian Federation and formed from countries that have not joined the sanctions against Russia, receive funds for the debts of residents of the Russian Federation in rubles in the amount of the ruble equivalent at the exchange rate at the time of payment, and if there is a certain permission – in the currency of the debt. Any restrictions on the use of accumulated rubles, including in terms of carrying out conversion operations that are not used.
Relevant payments to selected countries that have introduced appeals against Russia, in waiver of debt obligations, will be credited to type “C” accounts opened with Russian and foreign credit institutions. “Account mode “C” will be determined in accordance with the Bank of Russia and provides for the possibility of conducting transactions with securities accounted for depo accounts of type “C”, for taxes and fees, as well as for transferring accounts between “C”, – an appeal to the press CB release.
Judging by the comments of the regulator, the spending regime will not imply the possibility of converting funds into foreign currency.
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