The Central Bank will receive information from the Ministry of Finance regarding introduction of prohibitions against domestic payment systems by the countries

The above obligation was initiated by the Government of the Russian Federation. The Ministry of Finance is obliged to send data to the Central Bank of the Russian Federation regarding payment systems, the operators of which are registered with the Central Bank and in relation to which a ban was imposed by foreign countries

Important notice: Law&Trust no longer work in Russia. Transfer of operational control over Law&Trust in Russia to local management and the formation of the LegalCraft brand was started in 2022 and came into effect in October 2024.

The website of the Cabinet of Ministers already has a published resolution (number - 637 dated May 27, 2017)

If a foreign state introduces a prohibition on payment systems that have registered operators by the Central Bank, cross-border transfers of funds from a bank account within the framework of payment systems can be carried out from the Russian Federation to such jurisdiction only if the payment infrastructure operators remain under indirect/direct control of Russian legal entities, and it was prescribed by the Federal Law.

The Central Bank of the Russian Federation is obliged to post information on its official website regarding introduction of relevant prohibitions on the part of foreign states.

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