📋 Tender Overview
The question can come to any resident - both organizations and individuals.The Central Bank ordered banks to be interested in the origin of the currency that the client resident of the Russian Federation is trying to transfer from his account in a Russian bank to an account in a foreign bank not necessarily to his own. The answer to the bank can be given in any form writes the Central Bank.This is due to one of the sanctions prohibitions - residents are prohibited from transferring abroad the currency received in the form of dividends on shares of Russian joint-stock companies to foreign accounts. This applies both to cases of direct crediting of dividends there and transfers after crediting to an account in a Russian bank. To find out if the transferred funds are not dividends the bank will request information on any attempt to make a transaction. If it turns out that these are dividends from a Russian JSC the bank will not carry out the operation.By the way the Central Bank mentions only dividends on JSC shares while V. Putins Decree 430 also mentions a ban on the transfer of distributed profits of Russian LLCs business partnerships and production cooperatives abroad.These and other clarifications on the application of presidential decrees with a financial focus were given by the Central Bank in a letter dated September 5 2022 N 9-OR . The aforementioned Decree 430 became widely famous for the fact that it actually canceled the repatriation of currency for the period while the zero norm for the mandatory sale of foreign exchange earnings is in effect.
