Residents of unfriendly countries should receive payments from profits of Russian cos through 'C' accounts - decree

MOSCOW. May 4 (Interfax) - Russian President Vladimir Putin has established a temporary arrangement for payments from profits over 10 million rubles per month by Russian limited liability companies, commercial partnerships, and production cooperatives to participants from unfriendly countries: they should go through "C" accounts.

Decree No. 254 "On the temporary arrangement for fulfilling financial obligations to certain foreign creditors in the sphere of corporate relationships" was published on Wednesday on the official Internet portal for legal information.

The arrangement for payments from profits by limited liability companies, commercial partnerships, and production cooperatives to participants connected to unfriendly countries will be analogous to that used when paying financial obligations on loans to these entities. In line with presidential decree No. 95 of March 5, 2022, financial obligations are paid in rubles using "C" accounts. This arrangement is used when paying obligations over 10 million rubles per calendar month or in an amount exceeding the equivalent of this sum in foreign currency at the official exchange rate.