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Post: Russia plans to implement state guarantees in foreign currency in rubles

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Ministry of Finance: Russia will implement state guarantees in rubles provided in foreign currency

MOSCOW, February 16 – RIA Novosti. In accordance with the draft presidential decree, the developer of which is the Ministry of Finance of the Russian Federation, Russia will implement state guarantees provided in foreign currency in rubles.

“In order to avoid a technical default in cases of guarantees under state guarantees (due to the impossibility of transferring funds in foreign currency), the draft decree establishes the following provisions: the enactment of the decree in the currency (rubles) of the Russian Federation on the implementation of state guarantees provided before the date of entry into force”, – of the draft decree specified in the explanatory note.

It also clarifies that the need for the introduced provisions arises from the existing geopolitical situation when the possibilities of the Russian Federation to fulfill state guarantees, the amount of which is expressed in foreign currency, and the fulfillment of obligations in foreign currency are also provided. currency is significantly limited and unpredictable.

The draft decree adds that the amount of unfulfilled (overdue) obligations in foreign currency required for payment under the state guarantee must be indicated by the beneficiary in rubles at the exchange rate established by the Central Bank of the Russian Federation. on the date of the request for the fulfillment of the state guarantee. In addition, the funds will be transferred to the beneficiary’s bank account opened in the currency of the Russian Federation or to a similar bank account of a third party.

“The requirements of beneficiaries for the fulfillment of state guarantees, which contain provisions for the transfer of funds in foreign currency, are not subject to fulfillment,” the draft decree states.

Source: Ria

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