When “unfriendly” non-residents withdraw from Russian assets, they will now have to pay a fee to the RF budget along with a significant discount. At a discount of more than 90%, the contribution will be at least 10% of the market value of the asset.
“The government subcommittee on foreign investment control has adjusted the conditions for residents from unfriendly countries to withdraw from assets in the Russian Federation. To withdraw from Russian assets, “unfriendly” foreigners will definitely have to pay a contribution to the Russian budget,” Interfax reports, citing the minutes of the meeting of the government commission.
Earlier, the Russian authorities significantly tightened control over transactions with shares and bonds of Russian companies, as well as OFZs and shares, which before the start of the Russian military operation in Ukraine belonged to foreign persons, and in 2022 were transferred to Russian residents in a “special procedure”. Now, even for the subsequent sale or transfer of such securities, permission from the government commission for the control of foreign investment will be required.