13.09.2023

New payment procedure for Russian Eurobonds

On 9 September 2023, Russian President Vladimir Putin signed Decree No. 665 “On the temporary procedure for the performance of state debt obligations of the Russian Federation owed to residents and foreign creditors and expressed in foreign currency-denominated government securities and other obligations under foreign securities”.

Decree 665 abolishes the procedure stipulated in an earlier presidential decree, i.e., No. 394 (which had nearly the same heading and was in force from 22 June 2022) and introduces a new regime for the performance by the Ministry of Finance of debt obligations under sovereign Eurobonds held by Russian and foreign bondholders.

Read in detail in the alert at the link:

https://www.stonebridgelegal.ru/media/files/Alert_New_payment_procedure_for_Russian_Eurobonds_September_ENG.pdf

You might be interested

  • Russian counter-sanctions regulations: Softening the restrictions on dividend payments
    Russian counter-sanctions regulations: Softening the restrictions on dividend payments

    On 23 August 2023, the Russian Ministry of Finance published an excerpt from the minutes of a meeting of the Sub-Commission of the Government Commission for Control over Foreign Investments (the ultimate decision maker in most matters concerning counter-sanctions), which softened the guidelines for granting approvals for the payment of dividends by Russian companies to their foreign shareholders associated with unfriendly states.

    25.08.2023