Finance Minister explained when companies are allowed to pay debts in foreign currency | News -

Finance Minister explained when companies are allowed to pay debts in foreign currency

Since the beginning of March, a special commission of the Ministry of Finance has started controlling foreign investments in Russia. Servicing of corporate debt of companies and government debt to holders from unfriendly countries can be carried out only with the commission’s permission.

Instructions on how to obtain permission from the commission can be consulted on the Ministry’s website.

Finance Minister Siluanov explained that Russian companies are allowed to pay their foreign liabilities in foreign currency, provided that the balance of receipts is positive in favor of Russia.

To know more about how Bellerage can assist your business in Russia, read about our anti-crisis services here.

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