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News
21.05.2025
THE BANK OF RUSSIA HAS CLARIFIED THE RULES ON OFFSETTING OBLIGATIONS UNDER NON-RESOURCE FOREIGN TRADE CONTRACTS
The requirement to repatriate export revenues has been lifted for exporters under non-resource foreign trade contracts.
The President of the Russian Federation has established a temporary procedure for fulfilling obligations on foreign currency accounts (deposits) and Eurobonds. Russian companies (with the exception of certain Russian exporters) are allowed not to comply with the requirement to repatriate funds, to offset their claims against non-residents and obligations to them under foreign trade agreements, or to replace the obligations of non-residents with new obligations, except in cases determined by the Government of the Russian Federation in agreement with the Bank of Russia.
If at least one of the offsetting obligations falls under special regulation, then the offset must be carried out in compliance with the special (temporary) procedure. In all other cases, offsets are carried out without restrictions.
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