ORDER OF THE GOVERNMENT OF THE RUSSIAN FEDERATION

of June 23, 2025 No. 934

About the requirement to the level of credit rating on national rating scale to which there shall correspond credit institutions in which irrespective of currency of the relevant agreement has the right to open accounts and the covered (deposited) letters of credit and with which the federal unitary enterprises and economic societies having strategic importance for defense industry complex and safety of the Russian Federation and also the economic societies which are under their direct or indirect control, cases in case of which the specified requirement is not applied and requirements to securities of credit institutions which have the right to acquire such federal unitary enterprises and economic societies, and also economic societies which are under their direct or indirect control have the right to sign bank account agreements and bank deposit agreements (deposit)

According to article 24.1 of the Federal law "About State and Municipal Unitary Enterprises" and article 2 of the Federal law "About Opening of Bank Accounts and Letters of Credit, about the Conclusion of Bank Deposit Agreements, Contracts for Maintaining the Register of Owners of Securities by the Economic Societies Having Strategic Importance for Defense Industry Complex and Safety of the Russian Federation and Modification of Separate Legal Acts of the Russian Federation" Government of the Russian Federation decides:

1. Determine that credit institutions in which irrespective of currency of the relevant agreement has the right to open accounts and the covered (deposited) letters of credit and with which the federal unitary enterprises and economic societies having strategic importance for defense industry complex and safety of the Russian Federation and also the economic societies which are under their direct or indirect control, included respectively in the lists specified in Item 12 of article 24.1 of the Federal law "About State and Municipal Unitary Enterprises" and in part 7 of article 1 of the Federal Law "About opening of bank accounts and letters of credit about the conclusion of bank deposit agreements, contracts for maintaining the register of owners of securities by the economic societies having strategic importance for defense industry complex and safety of the Russian Federation have the right to sign bank account agreements and bank deposit agreements (deposit) and modification of separate legal acts of the Russian Federation", shall have at the same time at least 2 credit ratings not lower than the BBB-(RU) level on national rating scale for the Russian Federation, appropriated by credit rating agency Analytical Credit Rating Agency (Joint-stock company), and (or) it is not lower than the ruBBB-level on national rating scale for the Russian Federation, appropriated by credit rating agency joint-stock company "Expert RA Rating agency, and (or) it is not lower than the BBB-.ru level on national rating scale for the Russian Federation, appropriated by credit rating agency National Credit Ratings limited liability company, and (or) it is not lower than the BBB-| ru | level on national rating scale for the Russian Federation, appropriated by credit rating agency National Rating Agency limited liability company.

2. The requirement, the stipulated in Item 1 this resolution, does not extend to credit institution which is given the status of the central depositary according to the Federal Law "About the Central Depositary", and also on the credit institution which is the skilled central partner according to the Federal Law "About Clearing, Clearing Activities and the Central Partner".

3. The requirement, the stipulated in Item 1 this resolution, is not applied in case of opening of the account, the conclusion of bank account agreement, bank deposit agreement (deposit) by the economic societies determined by the Government of the Russian Federation, on condition of placement on this account, contribution (deposit) of money for the term which is not exceeding 45 calendar days for the purpose of implementation of payment under agreements in foreign trade (contracts), making of conversion transactions to implementation of such calculations.

Concerning the separate economic societies Government of the Russian Federation has the right to establish other maximum term exceeding 45 calendar days, placements of money on accounts, deposits (deposits) specified in paragraph one of this Item.

4. Securities of credit institutions which have the right to acquire the federal unitary enterprises and economic societies having strategic importance for defense industry complex and safety of the Russian Federation and also the economic societies which are under their direct or indirect control specified in Item 1 of this resolution shall conform to the following requirements:

issuer of securities (except for bonds) is the credit institution conforming to the requirement, the stipulated in Item 1 this resolution;

bond issuing institution is the credit institution conforming to the requirement, the stipulated in Item 1 this resolution, and credit score not lower than the BBB-(RU) level on national rating scale for the Russian Federation of credit rating agency Analytical Credit Rating Agency (Joint-stock company) is assigned to bond issue, and (or) it is not lower than the ruBBB-level on national rating scale for the Russian Federation of credit rating agency joint-stock company "Expert RA Rating agency, and (or) it is not lower than the BBB-.ru level on national rating scale for the Russian Federation of credit rating agency National Credit Ratings limited liability company.

5. Recognize invalid acts of the Government of the Russian Federation according to the list according to appendix.

6. This resolution becomes effective from the date of official publication and extends the action to the legal relationship which arose since May 1, 2025.

Appendix

to the Order of the Government of the Russian Federation of June 23, 2025 No. 934

List of invalid acts of the Government of the Russian Federation

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