The state Duma adopted a Law that will make it possible not to penalize Russian exporters, who are under punishment in foreign countries, failure to return foreign currency earnings to the Russian Federation.
Deputy Finance Minister Alexey Moiseev explained before, because it will apply to organizations that fall under punishment, and whose accounts have been frozen. At the same time, according to His statement, to indemnify will not any person, but only included in the list approved by FNS, in coordination with the Ministry of Finance.
The law also recognizes the exporter to have fulfilled the obligation to return revenue in case he is insured in EXIAR (a subsidiary of VEB) in the amount not less than the amount of future revenue under export contract.
at present, Russian exporters are required to enroll in the currency received in payment for items on their accounts in Russian banks.
If the funds transfer has expired and the currency on the invoice is not received, the exporter is considered to be a violator of the law. It has the ability to bring to punishment according to the administrative code, even If it insures contracts from foreign and any other risks in OPERATING. Although exporters will eventually get the money due to the insurance cover of EXIAR, in fact they are breaking the Law on currency control, explained Moses.