Restrictive measures introduced by Russian authorities within the past week can have effect on businesses in Russia, especially those structures involving separate companies in jurisdictions outside of Russia, including holding companies.
Subject to further news on additional measures, we put together below some of the main provisions that can have substantial consequences for business in Russia.
- Obligation to sell currency received by residents
- Ban on currency loans to non-residents
- Ban on dividend and interest payments
- Ban on sales of securities issued by Russian entities to foreign persons
- Limitations on deals with foreign persons
- Ban on disposal of securities by foreign persons
- Ban on money transfers from Russia by non-residents
- Technical issues with payments
- Limited air travel
More information – in our Alert.