2 Jun 2022 13:48

Residents of 'unfriendly' countries may transfer securities to Russian relatives

MOSCOW. June 2 (Interfax) - The Russian government has permitted citizens to receive as a gift or buy securities, at a value not exceeding one ruble, from relatives from unfriendly countries, according to an extract from the minutes of the meeting of the subcommittee of the government commission for monitoring foreign investment, as published on the Finance Ministry's website.

According to the published extract, individual Russian residents are permitted to conduct transactions where there is no chargeable consideration, as well as transactions not exceeding one ruble, regarding gaining ownership of securities alienated by individuals who are foreign citizens associated with countries that are engaged in so-called unfriendly actions against Russian legal entities and individuals. These transactions are permitted when the parties to said transactions are spouses or close relatives in accordance with the Domestic Relations Code of the Russian Federation.