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PRESIDENTIAL DECREE OF THE RUSSIAN FEDERATION

of February 28, 2022 No. 79

About application of special economic measures in connection with unfriendly actions of the United States of America and the foreign states and the international organizations which adjoined them

(as amended on 09-06-2022)

Due to the unfriendly and contradicting international law actions of the United States of America and the foreign states and the international organizations which adjoined them connected with introduction of rationing arrangements concerning citizens of the Russian Federation and the Russian legal entities for the purpose of protection of national interests of the Russian Federation and according to the Federal Laws of December 30, 2006 No. 281-FZ "About special economic measures and enforcement powers", of December 28, 2010 No. 390-FZ "About safety" and of June 4, 2018 No. 127-FZ "About corrective actions (counteraction) on unfriendly actions of the United States of America and other foreign states" I decide:

1. To residents - participants of foreign economic activity to perform obligatory sale of foreign currency in the amount of 80 percent of the amount of the foreign currency credited since January 1, 2022 into their accounts in authorized banks based on the contracts in foreign trade signed with nonresidents and providing transfer to nonresidents of goods, rendering services to nonresidents, accomplishment for nonresidents of works, transfer of results of intellectual activities to nonresidents including exclusive rights on them no later than three working days from the date of entry into force of this Decree.

2. Residents - participants of foreign economic activity shall perform sale of the foreign currency enlisted into their accounts in authorized banks based on the contracts in foreign trade signed with nonresidents and providing transfer to nonresidents of goods, rendering services to nonresidents, accomplishment for nonresidents of works, transfer of results of intellectual activities to nonresidents, including exclusive rights on them, in the amount of, determined by Russian Government Commission on Foreign Investments, in time, established by the Board of directors of the Central bank of the Russian Federation.

3. Prohibit since March 1, 2022:

a) implementation of the currency transactions connected with provision by residents for benefit of nonresidents of foreign currency to loan agreements;

b) transfer by residents of foreign currency into the accounts (deposits) opened in the banks and other organizations of the financial market located outside the territory of the Russian Federation and also implementation of money transfers without opening of the bank account with use of the electronic instruments of payment provided by foreign payment service providers.

4. Determine that the procedure of sale of foreign currency based on Items 1 and 2 of this Decree is established by the Central bank of the Russian Federation.

4.1. Provide to the Board of directors of the Central bank of the Russian Federation power to determine other, than established according to Item 2 of this Decree, completion date by residents - participants of foreign economic activity of obligation selling foreign currency.

5. Determine that the requirements about obligatory sale of foreign currency provided by Items 1 and 2 of this Decree extend to residents, being the party of contracts in foreign trade, irrespective of statement of such contracts for accounting in authorized banks according to provisions of the instruction of the Central bank of the Russian Federation of August 16, 2017 No. 181-I "About procedure for representation by residents and nonresidents to authorized banks of supporting documents and information when implementing currency transactions, about single forms of accounting and the reporting under currency transactions, procedure and terms of their representation".

6. Permit public joint stock companies till December 31, 2022 inclusive to acquire the shares placed by them (except for acquisitions of placed shares for the purpose of reducing their total quantity) in the presence of in total following conditions:

a) the acquired shares are admitted to organized trading;

b) the weighted average price of the acquired shares determined for any three months since February 1, 2022 decreased in comparison with the weighted average price of such shares determined in three months since January 1, 2021 by 20 and more percent;

c) the value of the main index of the stock market calculated by the organizer of trade for any three months since February 1, 2022 decreased in comparison with the value of such index calculated by the organizer of trade in three months since January 1, 2021 by 20 and more percent;

d) shares are acquired at the organized biddings based on the requests addressed to unrestricted circle of bidders;

e) share acquisition is performed by the broker on the order of public joint stock company;

e) the board of directors (supervisory board) of public joint stock company makes the decision on acquisition of the shares placed by it according to requirements of this Decree determining categories (types) of the acquired shares, the number of the acquired shares of each category (type), term during which share acquisition is performed and which shall expire no later than December 31, 2022. Information concerning acquisition of own shares by public joint stock company can not reveal in the form of the Material Fact Statement if it is provided by the made decision on share acquisition, or to reveal in the time established by such decision.

7. Determine that the public joint stock company performing acquisition of the shares issued by it according to this Decree shall send to the Central bank of the Russian Federation the notification on implementation of share acquisition with application of documents, the conditions confirming observance, stipulated in Item 6 these Decrees. The notification and documents attached to it go electronically through private office, access to which is provided by the Central bank of the Russian Federation to public joint stock company in compliance with part three of article 76.9 of the Federal Law of July 10, 2002 to No. 86-FZ "About the Central bank the Russian Federation (Bank of Russia)".

8. Provisions of Items 4, of 5, of the 7 and 8 article 72 of the Federal Law of December 26, 1995 "About joint-stock companies" are applied No. 208-FZ to the public joint stock companies performing acquisition of the shares placed by them taking into account provisions of Items 6 and 7 of this Decree.

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