Putin's signing order is prohibited!

Russian President Putin signed a presidential order on July 5 that Russian residents were prohibited from transferring foreign exchange income obtained by dividends to overseas accounts.

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Putin data map

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According to the documents issued by the Kremlin website, the above laws and regulations stipulate that the Russian Government Foreign Regulatory Commission has the right to limit residents to transfer foreign exchange to their overseas accounts and use electronic payment methods provided by foreign parties without a bank account.

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The decree also made new provisions on Russia's European debt. The decree said that Russian companies can fulfill the debt agreement by the way of selling and selling the European bond creditors similar (including term and yield) bonds.

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The law states that Russian legal entities who have obligations to European bonds are obliged to repay debts and fulfill their obligations to European bond holders through the method of determining the Russian central bank board.

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The law stipulates that if the CIC's loan agreement (or such loan guarantee agreements) is a payment agent of a non -friendly country, the Russian legal entity of such protocol debtor can bypass these payment agents, and use rubles or other agreed currencies. Perform the debt obligations of residents' creditors stipulated in the agreement.

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The Kremlin website news said that the decree came into effect from the date of official announcement. The Russian central bank will issue an official explanation on the scope of the application of the decree.

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Screenshot of CCTV News Client

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Source: CCTV News Client

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