Effective June 1, 2026, the temporary procedure for fulfilling obligations to foreign creditors associated with unfriendly states will also apply to the fulfillment of obligations related to bank deposits.
This change will allow Russian financial institutions to fulfill their obligations regarding bank deposits to unfriendly creditors (e.g., paying interest) through special “C” accounts if the amount of the obligations exceeds 10 million rubles per calendar month, or the equivalent of this amount in foreign currency.
Please note that crediting funds to a Type “C” account significantly restricts their use. In accordance with the “C” account regime established by the Resolution of the Bank of Russia’s Board of Directors dated November 21, 2022, funds may be debited primarily for the purposes of paying taxes, paying commissions to the authorized bank, and making transfers to other “C” accounts.
Extension of the scope of application of the temporary measures provided for in Presidential Decree No. 95 of March 5, 2022
