The Bank of Russia implements additional measures to support the Finance sector due to increased volatility: insurance companies will be given the opportunity to establish a fixed value of foreign currency exchange rates as of February 18, 2022 for the calculation of mandatory ratios; reduction to zero of the additional and increased rates of insurance premiums for banks in the deposit insurance system; dissolution of the accumulated macroprudential capital buffer according to the claims of banks in foreign currency to legal entities; premiums to risk ratios are also canceled; credit institutions required to postpone the payment of dividends and bonuses to management.
Russian Federation
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Suspension of short sales on the exchange and over-the-counter markets
Suspension of short sales on the exchange and over-the-counter markets, to stabilize domestic markets, limit speculative attacks, and shield key assets from being driven down by foreign or domestic investors.
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Extended ban on price-cap oil sales
Presidential decree extends Russia’s ban on selling oil under the Western-imposed price cap until December 31, 2025.
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Duties lifted on medical and food imports
Government decree cancels previously increased import duties on medical, dietary, and specialized food products originating from “unfriendly” states and territories.
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State control over aviation, shipbuilding
Presidential decree introduces external state management in civil aviation and shipbuilding enterprises if they fail to fulfill state contracts during wartime.
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Ban on precious metal scrap exports
The temporary ban on the export of waste and scrap of precious metals has been extended for six months, to November 30, 2025.
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Forced tech transfer, 2% revenue levy
Draft federal law requires organizations from “unfriendly” states to disclose technologies used in high-tech products and transfer 2% of their revenue to Russia’s Technological Sovereignty Fund.