FAS proposes to introduce a ban on foreign exchange contracts within Russia

FAS proposes to introduce a ban on currency contracts within Russia

The Agency proposes to limit such conditions of internal transactions.

The media became aware of a new initiative of the Federal Antimonopoly Service.

According to RBC, the FAS has developed a bill that introduces a ban on such a condition of internal contracts as the price of the contract in foreign currency. The consequences of such a decision may be the termination of long-term contracts and the transition to full prepayment of goods.

In turn, Vedomosti  they clarify that the initiative belongs to the Government of the Russian Federation.

The explanatory note to the bill states that it is among the priority measures to stabilize the Russian economy. If the law is adopted, amendments to the Civil Code of the Russian Federation, Articles 317 and 424 will follow.

Already concluded contracts will need to be changed within thirty days from the date of entry into force of the law. In case of refusal of the parties, the terms of the contract will be executed at the exchange rate of the ruble on January 1 of this year.

It is important that the innovation does not affect foreign trade agreements.

The FAS media reported that the project has already been approved by the Ministry of Finance, and on March 31 it will be discussed by the Presidential Council for Improving Civil Legislation.

According to RBC experts, the law may lead to the loss of a number of contracts, as well as provoke the refusal of entrepreneurs from long-term transactions.

As Topnews wrote earlier, in March, Russian President Vladimir Putin announced Russia’s decision to accept payment for gas supplied to Europe in rubles.

Источник topnews.ru

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