Skip to main content

Russia says deals with 'unfriendly' countries, including Canada, will require approval

Share
LONDON -

Russia said on Monday that all corporate deals with companies and individuals from so-called "unfriendly countries" would now have to be approved by a government commission, according to a government resolution.

The government said it had approved a list of countries and territories taking "unfriendly actions" against Russia, its companies and citizens, in the wake of severe economic sanctions over the Ukraine conflict.

The list follows a presidential decree on March 5 allowing the Russian government, companies and citizens to temporarily pay foreign currency debts owed to overseas creditors from "unfriendly countries" in rubles.

A government statement showed the list of countries included the United States, European Union member states, Britain, Japan, Canada, Norway, Singapore, South Korea, Switzerland and Ukraine.

To make such payments, the government said debtors should open a special type of ruble account with a Russian bank and transfer into it the ruble equivalent of the foreign currency amount owed according to the central bank's official exchange rate on the day of payment.

This temporary arrangement for paying foreign debts applies to payments exceeding 10 million rubles (US$76,046) a month.

Get in touch

Are you in Ukraine? Do you have family in Ukraine? Are you or your family affected? Email dotcom@bellmedia.ca.

  • Please include your name, location, and contact information if you are willing to speak to a journalist with CTV News.
  • Your comments may be used in a CTVNews.ca story.

CTVNews.ca Top Stories

Car flies into B.C. backyard, lands upside down

A driver suffered only minor injuries after going airborne in a residential neighbourhood in Maple Ridge, B.C., on Friday, the car eventually landing on its roof in someone’s backyard.

Local Spotlight