Contribution to the budget became mandatory when foreigners sell Russian assets

The exit of “unfriendly” non-residents from Russian assets will now be associated not only with a significant discount, but also with the mandatory payment of a contribution to the Russian budget, with reference to the minutes of the meeting of the government subcommittee on foreign investment control writes Interfax.

According to the clarification of the agency, with a discount on the sale of assets over 90%, the fee will be at least 10% of their market value. At the same time, the subcommittee was given the right to authorize such transactions with “unfriendly” residents, as well as to agree on the terms of the relevant agreements. The Russian authorities imposed restrictions on these operations in the spring of 2022 in response to Western sanctions.

In addition, in December 2022, the subcommittee proposed a number of conditions that are taken into account when issuing permits for the alienation of Russian assets by representatives of “unfriendly” states. We are talking about a discount of at least 50% to the market price of assets and the availability of payment by installments for one to two years.