(Reuters) – Russian lawmakers on Wednesday handed an modification to the tax code that they mentioned would make it simpler for overseas firms to open accounts with Russian banks and pay for Russian fuel and different items in roubles.
Russian President Vladimir Putin final month signed a decree demanding overseas patrons pay for fuel in roubles or else have their provides reduce. He mentioned this was wanted as a result of in the event that they paid in onerous foreign money, Western sanctions over Ukraine would stop Moscow from accessing the cash.
In observe the measure requires overseas fuel patrons to open rouble and onerous foreign money accounts at Gazprombank, which can obtain their funds in foreign exchange and convert them into roubles through auctions on a Moscow change.
Olga Anufrieva, deputy chair of parliament’s price range committee, mentioned the brand new modification “vastly simplifies the registration and opening of an account” with a Russian financial institution.
Putin has mentioned that the function of nationwide currencies such because the rouble in exporting offers ought to rise, and Reuters reported on Wednesday that oil big Rosneft had requested for roubles and full prepayments in tenders for crude.
Kremlin spokesperson Dmitry Peskov has mentioned that there’s nonetheless time for so-called “unfriendly” nations to change to roubles, as funds for fuel delivered since Putin’s decree will fall due in Might.
Russia invaded Ukraine on Feb. 24 in what it known as a “particular operation” to demilitarise and “denazify” its neighbour. Ukraine and Western nations have dismissed this as a baseless pretext for conflict.
Reporting by Reuters; Enhancing by Nick Macfie
