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Putin signs decree on forex repatriation

Putin allowed the government commission to impose restrictions on the crediting of foreign currency by Russian residents to their accounts in foreign banks, according to the decree.

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Moscow: Russian President Vladimir Putin signed a decree on the repatriation of foreign currency and the Russian currency by residents participating in foreign economic activity, the corresponding document was published on the official legal portal.

Putin allowed the government commission to impose restrictions on the crediting of foreign currency by Russian residents to their accounts in foreign banks, according to the decree.

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“To grant the Government Commission for the Control of Foreign Investments in the Russian Federation the authority to impose restrictions on the crediting of foreign currency by residents to their accounts (deposits) opened in banks and other financial market organizations located outside the territory of the Russian Federation, as well as on the transfer of funds without opening a bank account using electronic means of payment provided by foreign payment service providers,” the document says.

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