Wednesday, March 22 2017 14:30 EET
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Russia forbids money transfers to Ukraine through international payment systems
Russia, Forbids, Money, Transfers, Ukraine, Through, Iternational, Payment, Systems

State Duma adopted the law in the third reading that limits money transfers from Russian Federation to foreign countries using international payment systems, reports Interfax.

According to the amendments, if foreign country imposes a ban on payment systems operators of which were registered by the Central Bank of Russian Federation, then cross-border transfers from Russia to that country can only be done through the operator controlled by Russian entities. These rules will also cover transfers without opening a bank account.

Russian Central bank will publish information on its site that foreign countries imposed the ban on payment systems registered by the Central Bank.

The law will take effect in 30 days after its official publication. Law’s regulations will cover existing bans, imposed by foreign countries on payment systems registered in Russia.

The document is aimed to eliminate negative effects of the ban on the activity of Russian payment systems in Ukraine, according to document’s memorandum.

Earlier it was reported that Russia urged Ukraine to provide security of Russian banks. Kremlin expects that the issue will not be politicized by Ukraine’s law enforcement agencies, - Russian Foreign Minister Sergei Lavrov.

According to the amendments, if foreign country imposes a ban on payment systems operators of which were registered by the Central Bank of Russian Federation, then cross-border transfers from Russia to that country can only be done through the operator controlled by Russian entities. These rules will also cover transfers without opening a bank account.

Russian Central bank will publish information on its site that foreign countries imposed the ban on payment systems registered by the Central Bank.

The law will take effect in 30 days after its official publication. Law’s regulations will cover existing bans, imposed by foreign countries on payment systems registered in Russia.

The document is aimed to eliminate negative effects of the ban on the activity of Russian payment systems in Ukraine, according to document’s memorandum.

Earlier it was reported that Russia urged Ukraine to provide security of Russian banks. Kremlin expects that the issue will not be politicized by Ukraine’s law enforcement agencies, - Russian Foreign Minister Sergei Lavrov.

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