Voluntary contribution to the budget will be one of the prerequisites for the exit of “hostile” non-residents from Russian assets. This is stated in an excerpt from the meeting minutes of the subcommittee of the government commission for the control of foreign investment. interfax.
It was explained that the subcommittee determined the contribution as at least 10% of the market value of the asset and at a discount of more than 90%. The subcommittee has the right to allow transactions with “hostile” residents and accept the terms of relevant agreements, which the Russian authorities imposed restrictions in the spring of 2022 in response to anti-Russian sanctions.
It was reported in December 2022 that it was at the level of the official decision of the relevant institution. fixed discount in the market value of Russian assets of “hostile” non-residents.
The capital control system, created in response to the sanctions against the Russian Federation, provides for transactions with “hostile” non-residents, in particular, through a subcommittee of the government commission on foreign investment. It has the authority to allow certain operations that are prohibited by default according to a series of Presidential decrees. The work of this subcommittee is headed by Finance Minister Anton Siluanov. Also, its members are representatives of the Central Bank, the Ministry of Economic Development and the administration of President Vladimir Putin.
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.