New incentives for businesses and investors
The cancellation of the mandatory sale of foreign exchange earnings for exporters, the permission to withdraw funds from In accounts and blocked assets from Cyprus, the bankruptcy of Volkswagen – read more in our news:
1. Exporters are exempt from currency restrictions
Prime Minister Mikhail Mishustin signed a decree on the abolition of mandatory repatriation and sale of foreign currency earnings. The decision is related to the strengthening of the ruble and stability in the foreign exchange market. Previously, exporters were required to sell up to 90% of the proceeds in foreign currency. The measure, introduced in 2023, affected key industries, including the fuel and energy complex and metallurgy. The Bank of Russia has repeatedly opposed the extension of these requirements.
2. Foreign investors will be able to withdraw assets from In accounts
The central Bank allowed non-residents to transfer funds from In-type accounts to foreign accounts. The new rules also apply to brokers and trust managers. In accounts were introduced by presidential decree in 2025 for investments in Russian assets.
3. Cyprus has started issuing licenses for the withdrawal of assets from Euroclear
The Ministry of Finance of Cyprus has issued the first permits to Russians to transfer unblocked assets from the Euroclear depository. To transfer funds to Cypriot brokers, an additional license is required from March 2025. Lawyers specify that approval from regulators in Belgium, Luxembourg or the US Treasury Department is required to obtain a permit.
4. The Moscow Arbitration Court has accepted a claim for bankruptcy of Volkswagen for 17 billion rubles
The Moscow Arbitration Court has accepted a bankruptcy petition for Volkswagen AG from Kameya, which acquired the rights of claim from the former GAZ Automobile Plant. The lawsuit is related to the termination of the contract for the assembly of cars. The meeting is scheduled for September 12. Experts doubt the success of the lawsuit, as Volkswagen has no assets in Russia.
