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29.08.2025
CABINET OF MINISTERS HAS RESET THE MANDATORY REPATRIATION AND SALE OF FOREIGN CURRENCY EARNINGS STANDARDS FOR EXPORTERS

The Government has reduced to zero the amount of mandatory repatriation and sale of foreign currency earnings by Russian exporters. 

Previously, exporters (included in the presidential list) had to deposit at least 40% of foreign currency received under foreign trade contracts into their accounts in authorised banks and sell at least 90% of the deposited proceeds on the domestic market.
28.08.2025
RESTRICTIONS ON TRANSFER AND WITHDRAWAL OF FUNDS ABROAD HAVE BEEN CHANGED FOR NON-RESIDENTS

Foreign investors who invest in the Russian financial market under the new rules will be able to transfer funds abroad from In-type accounts. In relation to these investors (foreign persons acting in their interests), restrictions on the return of funds abroad that are recorded in In-type accounts with Russian brokers and trust managers are lifted.

27.08.2025
FEDERAL TAX SERVICE RECOMMENDS INTRODUCING A UNIVERSAL TRANSFER DOCUMENT IN ADVANCE

From 2026, a universal transfer document will be used to confirm the shipment of goods, the performance of work or the provision of services. The formats of documents on the transfer of goods during trade operations and the transfer of results of work (services) will become invalid. 

Businesses are advised to start using the universal transfer document early. Its format combines an invoice and a primary document.
26.08.2025
NEW DIGITAL PRODUCTS ARE ADDED TO THE LIST OF MANDATORY PRE-INSTALLED SOFTWARE FOR 2026

The Russian Government has approved the list of software that must be pre-installed on electronic devices in 2026. The list now includes the Max digital platform, which will replace VK Messenger, present on the list since 2023.

Moreover, another digital product has been added: Lime HD TV will be pre-installed on televisions with a digital control unit.
The default search engine will remain Yandex.
25.08.2025
ACCOUNTING IN NON-CREDIT FINANCIAL INSTITUTIONS: SOME INDUSTRY STANDARDS WILL NOT APPLY STARTING FROM 2026

From January 1, 2026, certain industry accounting standards approved by the Bank of Russia for non-credit financial institutions will cease to apply. The following fields to be concerned:

- raising funds under loan and credit agreements;
- issuance and redemption (repayment) of bonds and promissory notes;
- trust management agreements.
22.08.2025
INCOME: ACCOUNTING REGULATIONS (PBU) TO BE REPLACED WITH THE FEDERAL ACCOUNTING STANDARD (FSBU)

The Federal Accounting Standard "Income" has been approved. It will apply starting with the accounting (financial) statements for 2027. However, organisations may decide to apply the standard before the specified date.

21.08.2025
FINES FOR FAILURE TO GIVE PRIORITY TO AN AMBULANCE HAS BEEN INCREASED

From September 1, 2025, the fine for failure to give priority to an ambulance with a blue flashing light and a special signal turned simultaneously will be set as 7.5 to 10 thousand roubles, while the alternative punishment is provided in the form of deprivation of rights for a period of from six months to one year.

20.08.2025
THE STATE WILL CONTINUE TO SUPPORT RUSSIAN EXPORTERS OF INDUSTRIAL PRODUCTS

The Government has adjusted the rules for providing state guarantees to support the export of industrial products (goods, works, services). Such state guarantees will be provided in 2025 as well - to ensure the fulfilment of obligations of Russian exporters, the deadline for fulfilment of which falls after January 1, 2028.

The conditions for providing state guarantees have been clarified. The loan agreement must include, among other things, the creditor’s obligations to exercise control over the targeted use of loan funds and provisions on the unconditional right of the Russian exporter to fulfil early obligations to repay borrowed funds.
 
19.08.2025
THE PRESIDENT INSTRUCTED TO REDUCE GREENHOUSE GAS EMISSIONS

The President instructed the Government to ensure a reduction in greenhouse gas emissions by 2035 to 65-67% relative to the 1990 level, taking into account the maximum possible absorption capacity of forests and other natural ecological systems and subject to the sustainable and balanced socio-economic development of Russia, its non-discriminatory access to equipment and technologies necessary to reduce (prevent) emissions and (or) increase their absorption.

 
18.08.2025
DESIGNATIONS ‘BIO’ AND ‘ECO’: TERMS ARE EXTENDED FOR ANOTHER 5 YEARS FOR THE USE WITHOUT COMPLYING WITH THE REQUIREMENTS FOR ORGANIC PRODUCTS

Until September 1, 2030, it is permitted to use the words "biodynamic", "biological", "ecological", "environmentally friendly", "green" or words with similar meanings, or their abbreviations, or the designations "eco", "bio" when individualising products and their manufacturers in the absence of confirmation of compliance with the requirements for organic products.

 
15.08.2025
THE BANK OF RUSSIA HAS ALLOWED INVESTORS FROM UNFRIENDLY COUNTRIES TO BUY CURRENCY

According to the decree of the President issued in July 2025, foreign investors have access to deposits in Russian credit institutions, securities both at organised trading in the unaddressed mode and at the initial placement, as well as instruments of the organised futures market. However, in order to acquire assets, a foreigner needs to open an "In" account. 

The Bank of Russia has lifted restrictions on the purchase of foreign currency on the domestic market for investors from unfriendly countries who will invest under new rules.
14.08.2025
AMENDMENTS ADOPTED TO COUNTERACT THE INFLUENCE OF FOREIGN HOLDINGS ON ECONOMICALLY SIGNIFICANT ORGANISATIONS

Amendments have been made to the Law on the specifics of regulating corporate relations in business entities that are economically significant organisations. 

The criteria for classification as economically significant organisations now apply not only to subsidiaries, but also to other Russian companies that are part of the same group of entities as such companies. 
Situations have been regulated where a person indirectly owning shares (interests) of an economically significant organisation has not taken direct ownership, and the securities or property rights belonging to him/her have been acquired by a citizen or resident of Russia. In such cases, the acquirer will have to take direct ownership of the shares (interests) before the expiry of the period for which the foreign holding company's exercise of corporate rights in relation to the economically significant organisation is suspended. 
It is possible to transfer rights to shares (interests) of an economically significant organisation to one or several business entities created by a court of law, with the establishment of specific features for the exercise of the rights of shareholders (participants).
13.08.2025
ELECTRONIC INVOICES AND UNIVERSAL TRANSFER DOCUMENTS CAN NOW BE SIGNED WITH A MOBILE SIGNATURE

The service for creating machine-readable electronic documents has been supplemented with a new feature. From now, users can sign electronic invoices and universal transfer documents with a mobile signature.

12.08.2025
USING THE MAX MESSENGER TO SIGN ELECTRONIC DOCUMENTS - IT’S NOT A DUTY!

Information that the MAX messenger will be mandatory for signing electronic documents is not true. 

In particular, the Russian Ministry of Digital Development explained that this only concerns signing documents in Gosklyuch. Anyone who previously signed documents in other services using tokens and physical media can continue to do so. 

The law does not envisage that all documents for signing in Gosklyuch will necessarily be sent to MAX. It is implied that the infrastructure will be used. This may also be notifications about documents received in Gosklyuch. 

It is also not necessary to send applications from Gosuslugi for signature in Gosklyuch using MAX. The same applies to departmental documents. 

11.08.2025
FROM AUGUST 1, 2025, YOU CAN OPT OUT OF ADVERTISING SMS

From August 1, 2025, subscribers of Russian telecom operators can opt out of receiving any SMS mailings, but from September 1, 2025 - also from cold calls. 

The subscriber can send an application to the operator - in a retail store or through the company's website. The mailing should stop the next day after the application is submitted. Similarly, you can cancel the refusal to receive messages.
08.08.2025
KEY RATE HAS BEEN REDUCED TO 18% PER ANNUM

On July 25, 2025, the Bank of Russia decided to cut the key rate by 200 bps, to 18% per annum. 

The Central Bank of the Russian Federation will maintain such tightness of monetary conditions that is necessary to return inflation to the target in 2026. In the baseline scenario, this assumes an average key rate in the range of 18.8-19.6% per annum in 2025 and 12-13% per annum in 2026. According to the Bank of Russia’s forecast, annual inflation will fall to 6-7% in 2025 and return to 4% in 2026.
07.08.2025
PROCEDURE FOR TRANSFERRING CERTAIN DATA TO THE CENTRAL BANK WILL CHANGE FOR RESIDENTS

Residents must submit the following information to the Bank of Russia: 

- on assets and liabilities denominated in foreign currency or payable in roubles or foreign currency in favour of non-residents by residents or legal entities that are subsidiary business entities of such residents; 
- on digital currencies and digital rights held by such residents or legal entities; 
- on the obligations to transfer digital rights by such residents or legal entities in favour of non-residents; 
- on the obligations of non-residents to such residents or legal entities.
06.08.2025
BANK OF RUSSIA ANNOUNCED THE LAUNCH OF A PILOT PROJECT TO ASSIGN RATINGS TO SHARES

The Bank of Russia has approved the methodologies of two credit rating agencies for assigning non-credit ratings to ordinary shares. This is a new product on the market that represents the fair value assessment of companies. It will serve as an additional reference point for investors when taking investment decisions. 

The pilot project included National Credit Ratings limited liability company and National Rating Agency limited liability company. The first issuers to be rated will be companies from the Shareholder Value Creation Program. 
At the end of the year, the Bank of Russia will consider the possibility of using stock ratings in financial regulation.
05.08.2025
PUT OPTION (REVERSE BUYBACK) BY FOREIGN INVESTORS - AMENDMENTS ARE APPROVED

On July 22, 2025, the State Duma adopted in the second and third readings amendments to the Law on the Specifics of Regulating Corporate Relations in Business Entities Classified as Economically Significant Organisations.

The amendments establish grounds for denying returning foreign investors the right to exercise a put option (reverse buyback). Five conditions must be met for such denial:
- the investor is associated with unfriendly countries;
- the shares were disposed within the period from February 24, 2022 to March 1, 2025;
- the transaction price was significantly below market value;
- at least two years have passed since the contract was concluded;
- the Russian purchaser has been fulfilling obligations to employees and creditors in good faith.
The investor shall have the right to claim compensation from the purchaser, but no later than one year from the date of the refusal to exercise the option.
If the investor has a significant impact on Russia’s socio-economic development, the state may prohibit the reverse buyback.
04.08.2025
CLOSE RELATIVES WILL BE ENTITLED TO A DISCOUNT ON THE NOTARIAL FEE FOR CERTIFYING REAL ESTATE GIFT AGREEMENTS

The fee for certifying real estate gift agreements between family members or close relatives has been reduced by 50%. This applies to spouses, parents and children (including adoptive parents and adopted children), grandparents and grandchildren, as well as full and half siblings.

Parents and legal representatives of children with disabilities and persons disabled since childhood are exempt from paying the fee when applying to the court to limit a citizen's legal capacity, declare them legally incapacitated, or restrict or revoke the right of a child aged 14 to 18 to manage their own income independently.
01.08.2025
RULES FOR MAINTAINING THE REGISTER OF BENCHMARK ADMINISTRATORS HAVE BEEN APPROVED

On September 1, 2025, a law concerning financial and commodity benchmarks and their administrators comes into force. Benchmark administrators must be included into a special register. The procedure for maintaining this register has been established.

The register shall be maintained by the Bank of Russia in electronic form. The law defines the information it must contain. Some of details, including such as the name, Primary State Registration Number (OGRN), Taxpayer Identification Number (INN), the administrator’s email address, and the methodology they use, to be published on the regulator’s website.

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