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PRESIDENTIAL DECREE OF THE RUSSIAN FEDERATION

of March 5, 2022 No. 95

About temporary procedure for obligation fulfillment before some foreign creditors

In addition to the measures of economic nature provided by presidential decrees 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" and of March 1, 2022 No. 81 "About additional temporary measures of economic nature for ensuring financial stability of the Russian Federation" I decide:

1. Establish temporary procedure for execution by the Russian Federation, subjects of the Russian Federation, municipalities, residents (further also - debtors) obligations on the credits and loans, financial instruments to the foreign creditors who are the foreign persons connected with foreign states which make concerning the Russian Federation of the Russian legal entities and physical persons unfriendly actions (including if such foreign persons have nationality of these states, the place of their registration, the place of preferential conducting economic activity by them or the place of preferential extraction by them of profit on activities are these states), or persons who are under control of the specified foreign persons, irrespective of the place of their registration (except as specified, if the place of their registration is the Russian Federation) or places of preferential conducting economic activity by them (further - foreign creditors).

2. The procedure for obligation fulfillment established by this Decree extends to obligation fulfillment in the amount of, exceeding 10 million rubles in calendar month, or in the amount of, exceeding equivalent of this foreign currency amount on the official rate of the Central bank of the Russian Federation established on the 1st day of every month.

3. For the purpose of obligation fulfillment, called in Item 1 of this Decree, the debtor has the right to direct to the Russian credit institution the application for opening addressed to the foreign creditor or the foreign organization having the right according to its personal law to perform accounting and transition of the rights to securities (the foreign nominee holder) concerning which obligation fulfillment, accounts of the type "C" intended for carrying out payment under these obligations is performed. For the purpose of obligation fulfillment, the securities connected with issue, the debtor has the right to direct such application to the non-bank credit institution which is the central depositary according to the Federal Law of December 7, 2011 No. 414-FZ "About the central depositary".

4. Provide that the custody accounts opened before this date addressed to the nonresident who is the foreign creditor or addressed to the foreign nominee holder belong to accounts of type "C" from the date of entry into force of this Decree.

5. The mode of the account of type "C" is set by the solution of the Board of directors of the Central bank of the Russian Federation which is subject to official publication according to article 7 of the Federal Law of July 10, 2002 No. 86-FZ "About the Central bank the Russian Federation (Bank of Russia)". Count of type "C" is kept in rubles.

6. Determine that the obligations called in Item 1 of this Decree are recognized performed properly if:

a) they are performed in rubles in the amount equivalent to the cost of obligations in foreign currency (irrespective of in what currency such cost is expressed) and the official rate of the Central bank of the Russian Federation established per day when the corresponding payment, before the foreign creditors who are not called in Item 1 of this Decree was made; calculated on

b) they are performed before residents which securities are considered on custody accounts in the Russian depositaries, by transfer by the debtor to the account of the creditor of means in rubles in the amount equivalent to the cost of obligations in foreign currency and the official rate of the Central bank of the Russian Federation established per day when the corresponding payment was made. Calculated on at the same time payments are made through Russian depositaries without money transfer into accounts of type "C";

c) they are performed before the foreign nominee holder by transfer by the debtor to the account of type "C" of the foreign nominee holder opened in the Russian depositary, means in rubles in the amount equivalent to the cost of obligations in foreign currency and to the owners of securities who are the foreign creditors called in Item 1 of this Decree, these means in the amount which is payable under the terms of issue of securities calculated on the official rate of the Central bank of the Russian Federation established per day when the corresponding payment was made for the subsequent transfer less payment amount, made the owners of securities who are persons, the procedure for obligation fulfillment before whom is established by subitems "an" and "b" of this Item;

d) they are performed according to the procedure, determined according to Item 10 or 11 of this Decree.

7. In case of transfer by the debtor of funds for the account of type "C" the creditor has the right to address to credit institution in which such account, with the statement for use of means according to the procedure determined by the Central bank of the Russian Federation (concerning obligation fulfillment by credit institutions and not credit financial credit institutions) or the Ministry of Finance of the Russian Federation is opened (concerning obligation fulfillment by other debtors).

8. Execution by debtors of obligations to residents, and also before the foreign creditors who are not called in Item 1 of this Decree if the right to claim according to such obligations was yielded to them after March 1, 2022 by the foreign creditors called in Item 1 of this Decree (or after other date determined by the Board of directors of the Central bank of the Russian Federation concerning some categories of persons), is performed according to the procedure, provided by this Decree.

9. Execution by the Russian legal entities of the obligations connected with release of foreign issued securities by the foreign organizations (eurobonds, depositary receipts), is performed according to the procedure, established by this Decree.

10. Provide to the Central bank of the Russian Federation (concerning obligation fulfillment by credit institutions and not credit financial credit institutions) and to the Ministry of Finance of the Russian Federation (concerning obligation fulfillment by other debtors) powers to determine other procedure for execution by debtors of the obligations called in Item 1 of this Decree.

11. Before determination according to Item 10 of this Decree of procedure for execution by debtors of obligations to confer powers on issue of permissions to obligation fulfillment without observance of the procedure provided by this Decree:

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