Sergey Tarasevich has commented to RBC on the presidential decree on the payment of funds from C-type accounts

On 19 March 2024, Russian President Vladimir Putin signed a decree allowing payments on securities of Russian issuers from C-type accounts to Russians and foreign companies controlled by them that are not recognised as persons from “unfriendly” countries, despite their actual registration in such countries. As of the end of March 2023 (the latest available data from the Bank of Russia), the total amount of liquid funds in such accounts was estimated at RUB 500 bn.

“In fact, these are funds that are in Russia and that should have eventually been transferred to residents, but they cannot be transferred to them because of the freeze on C-type accounts. There was a situation in which residents suffered because of the measures taken in response to Western sanctions”, Sergey Tarasevich, Associate of Tax & Administrative Law Practice at Maxima Legal, commented for RBC. 

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