New restrictions for Russian and foreign persons from March 27, 2022

Dear friends, we are pleased to announce that the O2 Consulting partner ecosystem is expanding its international presence!

The Board of Directors of the Bank of Russia has decided on additional restrictions for Russian and foreign persons, which will be applied from March 27, 2022.:

1. The amount of the advance that Russian legal entities and individual entrepreneurs are entitled to pay to any foreign persons is limited to 30 percent of the amount of obligations under the following contracts:

• contract for the provision of paid services;
• contract agreement;
• an agreement aimed at acquiring information;
• a contract aimed at acquiring the results of intellectual activity or exclusive rights to them.

However, this restriction does not apply to contracts for the provision of financial services (in particular, insurance and reinsurance) and services related to the purchase of certain types of goods for vehicles.

At the same time, these 30% are determined based on the official exchange rate of foreign currencies to the Russian ruble, established by the Bank of Russia.

2. The purchase of foreign currency in Russia by foreign persons from unfriendly states is limited to the amount of 0 US dollars or other foreign currency, which essentially means a ban on the purchase of foreign currency for these persons.