Putin signs govt's anti-crisis package

MOSCOW. March 8 (Interfax) - Russian President Vladimir Putin has signed a bill envisaging a number of economic and social measures amid international sanctions into law.

The law was published on the official website for legal information on Tuesday.

The law allows the government to additionally raise non-contributory pensions, pension points and the fixed pension payment in 2022, and specifies the procedure for establishing the subsistence minimum and the minimal wage in Russia.

The law liberalizes the procurement of drugs and medical goods in the domestic market, introduces special rules for drug registration, allows the government to adjust terms of pharmaceutical licensing, and envisages restrictions on the exports of certain types of drugs. Until the end of this year, the Social Insurance Fund is allowed to procure rehabilitation equipment, such as prosthetic appliances or wheelchairs, from a sole supplier.

The law allows the government to adjust the rules of admission to Russian higher educational establishments for Russians who have had to stop their education abroad due to the actions of foreign states.

The law has a number of provisions to support business in Russia.

For instance, inspections of small and medium businesses and IT companies will be suspended until the end of this year, and the procedure and terms of public procurements will be liberalized.

The law specifies the application of laws on companies, including the norms of calculation of the value of net assets in 2022, as well as lending laws.

The government will be able to derogate from certain licensing and accreditation norms and legislation in the field of shared-equity construction and intellectual property.

The bill was passed by the State Duma and endorsed by the Federation Council on the same day, March 4. It was initiated by the Russian government.