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Foreign currency contracts may be banned on the territory of Russia

The Federal Antimonopoly Service proposed to adopt a draft law prohibiting the linkage of domestic contracts to the exchange rate, as well as to world trade indices. Experts believe that the measure can lead both to the refusal of counterparties to conclude long-term agreements, and to the desire to receive a 100% prepayment. Such conditions in contracts are usually used by the parties in order to secure against the depreciation of the ruble. Often the initiators are foreign owners of real estate...

New payment currency may appear in Russia

A new payment currency, bypassing the global one, may appear in Russia. The aim of the initiative is the emerging need to abandon the dollar system in a situation of severe financial sanctions. Settlements in the new currency are proposed to be made with a number ...

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