A special recording procedure for certain securities will be in effect until the end of 2025
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To manage Pulkovo Airport, the Government will create VSS Holding LLC, which will receive 100% of the shares of the airport management company Northern Capital Gateway, owned by the Cypriot structure Thalita Trading Limited.
The State Duma adopted a law establishing a transition period for Russian IT companies until January 1, 2025, during which they will be able to use their information systems to authorise users, making preparations for the transfer of these systems under Russian control.
Government has set a procedure for maintaining the register of hosting providers (to be kept by Roskomnadzor).
Banks are reimbursed for lost income on preferential loans issued for the implementation of investment projects in the tourism sector through subsidies. The Ministry of Economic Development has approved a new procedure and criteria for inclusion in and removing from the register of borrowers. Previously, they were approved by Russian Federal Agency for Tourism.
The State Duma adopted in the first reading a bill establishing a mandatory and optional procedure for entering into direct ownership of shares and interests in an economically significant organisation.
The Bank of Russia will temporarily accelerate the previously announced operations for mirroring transactions related to the investment of funds from the National Welfare Fund in the first half of 2023. From September 14 to 22, the Central Bank will evenly sell foreign currency on the foreign exchange market with a total volume of 150 billion roubles. Thus, the daily volume of these operations will amount to RUB 21.4 billion during this period instead of 2.3 billion roubles.
From September 1, 2023, an experiment in Islamic banking is being conducted in Chechnya, Dagestan, Bashkiria and Tatarstan. Banks receive profit from investments within its framework. It is prohibited to pay interest.
The Bank of Russia recommends that all brokers develop a brief summary for clients, in which the basic terms of the contract are stated in simple phrases. The investor must know what operations can be performed on its instructions and at its expense on exchange platforms
From September 12, the territorial coefficient of the insurance tariff for compulsory motor third party liability (CMTPL) insurance in relation to vehicles of legal entities or individuals that are registered in unfriendly states and are temporarily used in Russia will increase from the current 1.7 to 30. Thus, the cost of an CMTPL policy for owners of such vehicles will increase by more than 17 times. The exception will be motorcycles, mopeds and light quadricycles, as well as cars of individuals. The value of the coefficient (1.7) will not change for them.
In connection with the increase in the age limit for conscription for military service to age 30 from January 1, 2024, the age limit for granting a deferment from conscription for military service for IT specialists has also been increased to age 30.
Changes correspond to the amendments to the Law on Information that came into force on March 1, 2023. It is forbidden to transfer payment documents and details, data on non-cash money transfers, personal data of Russian citizens and information on their bank accounts (deposits) through foreign messengers in the following cases:
Russia fulfills its debt obligations under Eurobonds in roubles at the internal rate.
From August 1 to December 31, 2023, a quantitative restriction is established with respect to import into the Russian Federation of ozone-depleting substances of group I of list C, section 2.1 of the List of goods in respect of which a permitting procedure for import onto the customs territory of the EAEU and export is established. The volume allowed for import will be distributed among the applicants that filed applications with the Ministry of Natural Resources of the Russian Federation on the need for the import of ozone-depleting substances, with indicating the purposes for use thereof.
Amendments have been made to the legislation, according to which, starting from September 1, 2024, legal relations concerning the compulsory insurance of civil liability of persons carrying out transportation of passenger in taxi, for harm caused to the life, health or property of such passengers, will be regulated by the OSGOP Law (abbreviation for the Law on the Compulsory Insurance of Carrier’s Civil Liability). Currently, insurance compensations for taxi passengers are paid in accordance with the OSAGO legislation.
A law has been adopted regarding the protection of children's health in educational institutions. In particular, it is established that students are allowed to participate in physical education classes provided the statement of a medical organisation issued on the basis of results of preventive medical examinations.
Administrative liability is being introduced:
The Ministry of Finance has developed the Federal Accounting Standard for Accounting (Financial) Statements. It will establish the composition and content of accounting, samples of accounting forms, as well as the terms for its reliability.
From July 1, 2023, the provisions of the Rules for maintaining the register of contracts concluded by customers come into force, providing, among other things, for the obligation of the customer to send, for inclusion in the register of contracts, information about the place of delivery of the purchased goods, the place of performance of work or the provision of services, the address of the web page on which court decision to terminate contract. Also, from this date, information about the counterparty included in the unified register of procurement participants will be placed in the register of contracts automatically if the contract was concluded using the Unified Information System.
The Ministry of Public Health approved a new procedure for the import of medical devices into the territory of the Russian Federation for the purposes of state registration, including in order to amend the documents contained in the registration dossier for a medical device, as well as medical products requiring technical tests, toxicological studies, clinical trials, and tests for the purpose of approval of the type of measuring instruments. The new procedure will replace the similar one of 2020 and will be applied until September 2029.
A draft law has been submitted to the State Duma, which provides for an increase the maximum amount of insurance compensation paid in accordance with the European Protocol from 100,000 to 200,000 roubles, in cases where an accident is registered by drivers without using a mobile application that provides photographic recording of the incident picture, and without a technical means of control based on GLONASS.
With a Decision of the Board of Directors, dated June 9, 2023, the Bank of Russia has updated the procedure for using type ‘S’ accounts as a bank account, depo account and sub-account, brokerage account, special brokerage account, clearing and trading bank account.
Simplified procedure for removing of a small and medium-sized business entity from the Unified State Register of Legal Entities in the event that its founders (participants) take a unanimous decision to terminate the activities of such a legal entity. Information about the upcoming exclusion shall be entered into the Unified State Register of Legal Entities and posted on the website of the registration authority. The simplified procedure is applied under the simultaneous observance of a number of conditions.
The decision on the upcoming exclusion must be published in the press, which contains data on the state registration of a legal entity. Objections to the upcoming exclusion can be sent to the registration authority within three months. Creditors and other persons may appeal the exclusion of a small and medium-sized business entity from the Unified State Register of Legal Entities within a year from the day they learned or should have learned about the violation of their rights.
Amendments have been made to the Labour Code of the Russian Federation on the issues of employment of minors.
The provision according to which a personal insurance contract is a public contract has been excluded from the RF Civil Code.
For inattentive or cruel treatment of animals, such as violation of conditions, or putting pets out onto the street, or causing damage, fines are introduced for individuals, companies and officials.
On January 24, 2023, the Duma approved, in the first reading, amendments to the Law on Digital Signatures. Participants in the financial market will be allowed to delegate powers using digital signatures. The Certification Centre of the Central Bank will issue verification key certificates to all subjects of the national payment system, to persons and entities that provide services in the financial market, self-regulating organisations operating in the financial market and self-regulating organisations involved in providing services in the financial market.
The procedure for currency export from Russia is the following:
- export in an amount exceeding the equivalent of 10,000 US dollars (at the exchange rate as of the date of export) is temporarily prohibited;
- if the currency of different states is exported simultaneously, each currency should be converted into roubles, and then the total amount should be converted into US dollars;
- the export of roubles and cash in the equivalent of up to 10 thousand US dollars is not limited.
- if roubles are exported along with the foreign currency and the total amount of cash exceeds the equivalent of ten thousand US dollars, then the entire amount is subject to declaring.
It is planned to adjust distribution for 2023 among the regions of the quota for issuing to foreigners arriving in Russia on the basis of a visa, work permits, including by professional qualification groups, and invitations to enter for the purpose of performing labour activities. However, the quota reserve to be reduced.
The RF Government has regulated the issues of online admission to universities as part of the admission campaign for the 2023/24 academic year. The process of submitting documents for online admission to a university has been simplified: certain details that previously should be finger-tipped will now be uploaded automatically. New state information systems have been additionally connected to the service "Online admission to universities". Among them are the following:
- "Physical Culture and Sports" platform, that is resource containing information on children with outstanding abilities;
- an information system in the field of volunteering activities, etc.
Achievements in these areas allow additional points for entering a university. For example, they may be obtained if the applicant has a GTO badge (Ready-for-labour-and-defence) or won the All-Russian Olympiads.
According to the schedule approved by the Federal Service for Supervision in the Field of Education, all-Russian review testing for schoolchildren studying in institutions of general education to be held from March 1 to May 20, 2023. The specific dates for each class and school subject to be determined independently within the period established by the schedule.
It is informed that starting from January 18, 2023, the Bank of Russia will set the official exchange rates of the rouble against another nine foreign currencies. These are the UAE dirham, Thai baht, Vietnamese dong, Serbian dinar, New Zealand dollar, Georgian lari, Indonesian rupiah, Egyptian pound and Qatari rial.
Thus, now the Central Bank of the Russian Federation sets the rates of 43 foreign currencies against the rouble.
Until the end of 2023, votes belonging to persons from unfriendly countries or to persons who are appointed from among the candidates nominated by persons from unfriendly countries may not be taken into account when determining the quorum and voting results on the agenda items. The provisional decision-taking procedure applies to Russian companies that simultaneously meet the following conditions:
- the company operates in the area of energy (including electric power), mechanical engineering or trade;
- the controlling person or beneficial owner is subject to foreign sanctions or restrictions;
- persons of unfriendly countries own no more than 50% of the amount of the authorised capital of the Russian company;
- the total revenue of the Russian company for the year preceding the year the decision was taken exceeds 100 billion roubles.
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