ORDER OF THE GOVERNMENT OF THE RUSSIAN FEDERATION

of May 22, 2025 No. 698

About measures for implementation of the Presidential decree of the Russian Federation of October 11, 2023 No. 771

For the purpose of implementation of the Presidential decree of the Russian Federation of October 11, 2023 "About obligatory sale of foreign currency by some Russian exporters" the Government of the Russian Federation decides No. 771:

1. The Russian exporters included in the list approved by the Presidential decree of the Russian Federation of October 11, 2023 No. 771 "About obligatory sale of foreign currency by some Russian exporters" (further - the Decree):

a) since May 25, 2025 enlist into the accounts in authorized banks foreign currency in the amount of at least 0th percent of the foreign currency received in accordance with the terms of the agreements in foreign trade (contracts) signed with nonresidents and providing transfer to nonresidents of goods, accomplishment for nonresidents of works, rendering services to nonresidents, transfer to nonresidents of information and results of intellectual activities, including exclusive rights on them (further - agreements in foreign trade (contracts):

in time, not exceeding 60 days from the date of the actual receipt of the foreign currency which is due in accordance with the terms of agreements in foreign trade (contracts), established on the date of entry into force of the Decree, but no later than the Decree established on the date of entry into force by the agreement in foreign trade (contract) of completion date by the nonresident of obligations on payment of goods, works, services, information and results of intellectual activities;

in time, not exceeding 120 days from the date of transfer to nonresidents of goods, accomplishment for nonresidents of works, rendering to nonresidents services, transfer to nonresidents of information and results of intellectual activities according to agreements in foreign trade (contracts) signed after day of entry into force of the Decree;

b) perform obligatory sale in the domestic foreign exchange market of the Russian Federation of the foreign currency enlisted according to the subitem "an" of this Item in the amount of 0 percent of the amount of foreign currency in time, not exceeding 14 days from the date of transfer;

c) provide accomplishment by the affiliated economic societies (including created according to the legislation of foreign states and having the location outside the territory of the Russian Federation) actions for obligatory sale of the foreign currency received in accordance with the terms of agreements in foreign trade (contracts) in terms and the sizes which are established by this Item.

2. The Russian exporters and (or) their affiliated economic societies within 3 days from the date of transfer into the accounts opened in authorized banks from accounts of the Russian importers in authorized banks of currency of the Russian Federation according to Item 2 (1) the Decree has the right to direct foreign currency from the accounts in the banks located outside the territory of the Russian Federation for payment of obligations of the Russian importers according to the agreements in foreign trade (contracts) signed with nonresidents and providing transfer to the Russian importers of goods to accounts of nonresidents, including nonresidents with which the Russian importers sign such agreements in foreign trade (contracts).

The Russian importers specified in Item 2 (1) the Decree, according to the agreements in foreign trade (contracts) signed with nonresidents and providing transfer to the Russian importers of goods goods provide commodity importation on the territory of the Russian Federation or transfer of the foreign currency transferred by the Russian exporters and (or) their affiliated economic societies on account of obligations of the Russian importers according to paragraph one of this Item into the accounts in the authorized banks or banks located outside the territory of the Russian Federation for not imported into the Russian Federation in time (not received in the territory of the Russian Federation), not exceeding 180 days from the date of execution of such obligations.

3. To the Ministry of Economic Development of the Russian Federation in 3-day time to notify the Russian exporters on inclusion them in the list approved by the Decree.

4. Bring in the Rules of issue of permissions by Russian Government Commission on Foreign Investments for the purpose of realization of additional temporary measures of economic nature for ensuring financial stability of the Russian Federation and other permissions provided by separate presidential decrees of the Russian Federation, and also realization of other powers for present purposes approved by the order of the Government of the Russian Federation of March 6, 2022 No. 295 "About approval of Rules of issue of permissions by Russian Government Commission on Foreign Investments for the purpose of realization of additional temporary measures of economic nature for ensuring financial stability of the Russian Federation and other permissions provided by separate presidential decrees of the Russian Federation and also realization of other powers for present purposes and modification of the Regulations on Russian Government Commission on Foreign Investments" (Russian Federation Code, 2022, No. 11, Art. 1689; No. 14, Art. 2260; No. 16, Art. 2669; No. 24, Art. 4056; No. 30, Art. 5638; No. 39, Art. 6625; No. 46, Art. 8001; No. 52, Art. 9647; 2023, No. 13, Art. 2267; No. 27, Art. 4997; 2024, No. 23, Art. 3201; No. 52, Art. 8318), following changes:

a) Item 1:

add with the subitem "t (1)" the following content:

"t (1)) the Russian exporters determined according to the Presidential decree of the Russian Federation of October 11, 2023 No. 771 "About obligatory sale of foreign currency by some Russian exporters" and their affiliated economic societies of the right not to enlist into the accounts in authorized banks the foreign currency received in accordance with the terms of agreements in foreign trade (contracts) provided by the subitem "an" of Item 2 of the Presidential decree of the Russian Federation of October 11, 2023 No. 771 "About obligatory sale of foreign currency by some Russian exporters" and not to perform its obligatory sale in the domestic foreign exchange market of the Russian Federation if the size of such foreign currency is equal to the size of the foreign currency directed by the Russian exporters and (or) their affiliated economic societies to satisfaction of the requirements expressed in foreign currency;

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info