Search

Russia may introduce a ban on withdrawing money abroad

The Ministry of Justice has developed a draft law providing for amendments to the Federal Law ‘On Enforcement Proceedings’. If the draft law is adopted, the country will introduce a ban on withdrawal of funds under an executive document in favor of foreign credit institutions. Thus, the state plans to resist the withdrawal of Russian money under the guise of debts to foreign partners. The legal development has already been supported by the Central Bank of the Russian Federation and Rosfinmonitoring, however, the representatives of business and the banking sector fear that the norm will create obstacles for bona fide counterparties. At the moment, the draft law is going through the stage ...

Sorted by relevance | Sort by date