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LONDON, March 31 (Reuters) – Here is the full text of President Vladimir Putin’s decree on the promotion of fuel by rubles.
The following is an unofficial Russian translation of the decree.
March 31, 2022
Decree on the Special Procedure for Compliance through Foreign Buyers of Obligations with Russian Suppliers of Natural Gas
. . . Decree:
1. Establish that as of April 1, 2022:
(a) payment for deliveries of herbal fuel (hereinafter referred to as herbal fuel) made after April 1, 2022 through citizens in a foreign economic activity that, in accordance with Federal Law No. 117-FZ of July 18, 2006 “On the export of gas”, they have the exclusive right to export herbal fuel in combustible state (hereinafter referred to as Russian suppliers), produced in rubles:
– within the framework of foreign industry contracts for the herbal fuel source (hereinafter referred to as herbal fuel source contracts) concluded with foreigners, if the herbal fuel source is carried out to foreign states engaged in hostile movements opposed to the Russian Federation, Russian legal and herbal persons;
– in the context of contracts for the supply of herbal fuel concluded with foreign persons whose registration position is from foreign states that are engaged in hostile movements opposed to the Russian Federation, Russian legal entities and herbal persons;
(b) the continuous source of herbal fuel through a Russian supplier to foreign persons referred to in paragraphs two and 3 of subparagraph “a” of this paragraph is prohibited (hereinafter referred to as foreign customers), under a contract for the herbal fuel source, if the deadline for payment of the fuel provided for in this contract has expired, the payment has not been made through the foreign client or in foreign currency, and/or not in full, and/or in an account in a bank that is not a legal bank in accordance with paragraph 2 of this Decree, and this delivery is made to foreign states engaged in hostile movements opposed to the Russian Federation, Russian legal persons and natural persons. Information on compliance with the procedure established through this Decree for the payment of the herbal fuel source shall be submitted to the customs authority. Where the customs authority receives information on a breach of this procedure, the customs authority shall prohibit such delivery.
2. Gazprombank Joint Stock Company, which is an authorized bank for the purposes of this Decree (hereinafter referred to as the authorized bank), opens special accounts in “K” rubles and special accounts in “K” currency for fuel herb banknotes provided on the basis of requests from foreign buyers.
3. The authorized bank has the right to open special accounts in rubles of type “K” and special accounts in foreign currency of type “K” without the non-public presence of a representative of a foreign buyer. The authorized bank proceeds to the identity of a new visitor – a foreign buyer, his representative, beneficiary, owner in accordance with the needs of the Federal Law of August 7, 2001. No. 115-FZ “On the fight against legalization (laundering) of the proceeds of crime and the financing of terrorism” and the regulatory acts of the Central Bank of the Russian Federation followed in agreement with him on the basis of documents and data on such persons for in such a case, no later than forty-five days after the date of opening a special account in rubles of type “K” for such a visitor” and a special account in “K” type coins.
4. Until amendments are made to the Tax Code of the Russian Federation and other federal laws, special accounts in “K” type rubles and special accounts in “K” type currencies are subject to Article 76, paragraph 12, Article 86, paragraph 1, part I of the Tax Code of the Russian Federation and Article 77, Part 27, of the Federal Law of August 3, 2018. No. 289-FZ “On customs regulations of the Russian Federation and amendments to certain legislative acts of the Russian Federation”.
5. No it is permissible to suspend operations in a special account in rubles of type “K” and a special account in currency of type “K”, or to cancel the budget maintained in those accounts in the context of the functionality of the obligations of a foreigner. buyer not linked to payment under an herbal fuel source contract.
6. A foreign customer transfers budget to a special currency account of “K” in the foreign currency specified in the contract for the herbarium gas source, and a legal bank, on the basis of an order from a foreign customer earned in accordance with the regulations of a legal bank, sells foreign currency earned from a foreign customer to such an account in organized auctions, made through the limited public enterprise “Moscow Exchange MICEX – RTS”, transfers the product in rubles to a special account in rubles of “K” of this foreign customer and transfers the budget credited in rubles to an account in rubles opened through a Russian supplier in an authorized bank.
7. La legal responsibility to pay for deliveries of herbal fuel through a foreign customer pursuant to paragraph 1 (a) of this Decree shall be deemed fulfilled from the moment the budget of the sale of foreign currency made in accordance with paragraph 6 or paragraph 10 (a) of this Decree is earned are credited to the ruble account opened through Russian at an authorized bank.
8. Si a foreign customer has transferred the legal responsibility to pay for the herbal fuel source to a person, he shall comply with that legal responsibility in accordance with the procedure established by this Decree.
9. Grant the Government Commission for the Control of Foreign Investments in the Russian Federation the force to allow foreign buyers to comply with the obligations to Russian suppliers to pay for herbal combustible materials without observing the procedure established through this Decree.
10. Grants the following powers to the Board of Directors of the Central Bank of the Russian Federation:
(a) a procedure for the sale of foreign currency other than that provided for in paragraph 6 of this Decree;
(b) identify arrangements for a special account in rubles of “K” and arrangements for a special account in a currency of “K”.
11. Within 10 days, the Government of the Russian Federation shall approve the procedure for issuing authorizations provided for in paragraph nine of this Decree through the Government Commission for the Control of Foreign Investments in the Russian Federation.
12. La Board of Directors of the Central Bank of the Russian Federation shall, within 10 days, take decisions for the exercise of the powers provided for in paragraph 10 (b) of this Decree.
13. The decisions of the Board of Directors of the Central Bank of the Russian Federation in this Decree are subject to official publication in accordance with Article 7 of Federal Law No. 86-FZ of 10 July 2002 “On the Central Bank of the Russian Federation”. Russian Federation (Bank of Russia)”.
14. To grant the Central Bank of the Russian Federation the task of giving official explanations on the application of this Decree.
15. The Federal Customs Service, in coordination with the Central Bank of the Russian Federation and with the participation of an authorized bank, within 10 days to approve the submission procedure, in accordance with paragraph 1 (b) of this Decree, shall inform the Customs Authority about the compliance with the procedure for the payment of deliveries of herbal fuels.
16. Recommend that the bank legal regulations in accordance with paragraph 6 of this Order within 10 days.
S. 17. This decree enters into force from the date of its official publication. (Report by Guy Faulconbridge)