Russian president extends special economic measures until end of 2023

Russian president extends special economic measures until end of 2023

Special economic measures to ensure financial stability in the sphere of currency regulation have been extended until December 31, 2023, according to the decree of Russian President Vladimir Putin posted on Wednesday.

A series of decrees on special economic measures was issued in response to sanctions against Russia in February - March of this year. One of them is the decree of March 18. In particular, it stipulates that Russian legal entities and individuals are banned from paying for interests, investments or capital units in the property of foreign legal entities, as well as making any contributions to nonresidents as part of agreements on joint operations, without a permit from the Bank of Russia.

This provision was initially set to expire on December 31 of this year but it has now been extended until the end of 2023.

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