Creation of a sub-commission for issuing permits for residents' transactions with foreign persons, as well as currency transactions

In connection with the Presidential Decrees on Special Economic Measures No. 79 adopted in late February and early March 2022 and No. 81 yesterday, a sub-commission was created in the Ministry of Finance of the Russian Federation by Decree of the Government of the Russian Federation No. 295 of 06.03.2022 on the issuance of permits for the implementation of transactions of residents with foreign persons, as well as foreign exchange transactions.

Applications for permits can be submitted electronically and by mail or by express directly to the Ministry of Finance.

Permits must be obtained for transactions with foreign persons associated with unfriendly states (the list is approved By the Government of the Russian Federation), in respect of loans, loans, real estate, over-the-counter securities transactions with these persons.

The permissive procedure does not apply to transactions with CFC, which were removed from the regime of special restrictions by Presidential Decree No. 95 from March 5, 2022.