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PRESIDENTIAL DECREE OF THE RUSSIAN FEDERATION

of June 22, 2022 No. 394

About temporary procedure for execution before residents and foreign creditors of the state debt obligations of the Russian Federation expressed in government securities which nominal value is specified in foreign currency

In addition to the measures provided by the Presidential decree of the Russian Federation of March 5, 2022 No. 95 "About temporary procedure for obligation fulfillment before some foreign creditors" I decide:

1. Determine that:

a) for the purpose of execution by the Russian Federation before residents and foreign creditors of the state debt obligations of the Russian Federation expressed in government securities which nominal value is specified in foreign currency (further - eurobonds of the Russian Federation) which rights to eurobonds of the Russian Federation are considered by the foreign organizations - the nonresidents having the right according to their personal law to perform accounting and transition of the rights to securities (further - foreign depositaries), the Russian Federation has the right to send 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" (further - the central depositary), the statement for opening addressed to foreign depositary (without personal presence of his representative) the count of type "I" which is kept in rubles;

b) the account of type "I" can be open addressed to several foreign depositaries;

c) beneficiaries on the account of type "I" are the owners of eurobonds of the Russian Federation and other persons determined according to the procedure, established by the Ministry of Finance of the Russian Federation in coordination with the Central bank of the Russian Federation (further - holders of eurobonds of the Russian Federation);

d) indexation of the cash amounts credited into the account of type "I" is made at the foreign exchange rate which is created in the domestic foreign exchange market of the Russian Federation in which obligations on eurobonds of the Russian Federation are expressed, according to the procedure, established by the Ministry of Finance of the Russian Federation in coordination with the Central bank of the Russian Federation;

e) The Ministry of Finance of the Russian Federation has the right to conclude with the central depositary, the Russian credit institutions and other persons of the agreement, indexations, necessary for implementation, of the cash amounts credited into the account of type "I" taking into account provisions of the subitem "g" of this Item;

e) the mode of the account of type "I" is established by the Central bank of the Russian Federation.

2. Determine that the central depositary:

a) makes payments to holders of eurobonds of the Russian Federation (except for foreign nominee holders) whose rights to eurobonds of the Russian Federation are considered by the central depositary or depositors of the central depositary, according to the procedure, stipulated by the legislation the Russian Federation, in the terms established by the prospectus of the issue;

b) makes payments to depositaries for which the account of person which is acting for the benefit of other persons in foreign depositary is opened (further - the Russian depositaries), in the terms established by the prospectus of the issue based on information on total quantity of eurobonds of the Russian Federation provided by the Russian depositaries to the central depositary which are considered by the Russian depositaries on custody accounts of their depositors;

c) opens accounts of type "I" addressed to foreign depositaries (without personal presence of their representatives) and enlists in the terms established by the prospectus of the issue into these accounts money for the subsequent payments to holders of eurobonds of the Russian Federation, the rights to which are considered by the specified foreign depositaries, in the amount which procedure for determination is established by the Ministry of Finance of the Russian Federation;

d) creates at the request of the Russian Federation the register of holders of eurobonds of the Russian Federation for implementation of payments to owners of eurobonds of the Russian Federation, the rights to which are considered by foreign depositaries. The holder of eurobonds of the Russian Federation joins in this register on condition of provision to the central depositary of documents which confirm the rights of the holder of eurobonds of the Russian Federation and which list is determined by the Ministry of Finance of the Russian Federation in coordination with the Central bank of the Russian Federation (further - supporting documents). For the purpose of obtaining from holders of eurobonds of the Russian Federation of supporting documents the central depositary attracts authorized organizations which list is determined by the Government of the Russian Federation;

e) performs according to the procedure, determined by the Ministry of Finance of the Russian Federation in coordination with the Central bank of the Russian Federation, necessary actions for transfer to holders of eurobonds of the Russian Federation of money in rubles in the amount calculated for date of their transfer according to the procedure for indexation established based on the subitem "g" of Item 1 of this Decree. For implementation of account transactions of type "I" by the central depositary consent or the order of foreign depositaries is not required.

3. Payments to holders of eurobonds of the Russian Federation are made with involvement of authorized Russian credit institutions which list is determined by the Government of the Russian Federation, in case of observance of the following conditions:

a) the payment amount to the holder of eurobonds of the Russian Federation, being foreign depositary, decreases by benefits amount, earlier made according to the subitem "v" of Item 2 of this Decree;

b) payments to the holder of eurobonds of the Russian Federation who is depositor of foreign depositary and to whom payments are made according to the subitem "v" of Item 2 of this Decree before date of provision to the central depositary by such holder of eurobonds of the Russian Federation of supporting documents are not made.

4. After receipt of payments from the central depositary the Russian depositaries make payments to depositors - holders of eurobonds of the Russian Federation. The specified payments are made after obtaining by the Russian depositaries from depositors - holders of eurobonds of the Russian Federation of information and the documents necessary for determination of payment amounts. The structure of information, the list of documents, term of their representation and term of implementation of payments are determined by the Ministry of Finance of the Russian Federation in coordination with the Central bank of the Russian Federation.

5. The coupon size on eurobonds of the Russian Federation or the size of cash amount, due to payments to the holders of eurobonds of the Russian Federation called in the subitem "v" of Item 2 of this Decree is determined taking into account the indexation of cash amounts performed according to this Decree at the time of payment of these means.

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