Russian President Vladimir Putin signed a law that improves the implementation of special economic measures in relation to foreign legal entities and individuals. In particular, the rules for applying special economic measures are established against them aimed at the ban on financial transactions and blocking funds. The document is published on the official portal of legal information, reports TASS.
The law was initiated in connection with the Decree of the President of the Russian Federation “On the application of special economic measures in connection with the unfriendly actions of Ukraine in relation to citizens and legal entities of the Russian Federation.” The document makes amendments to the Law of December 30, 2006 “On special economic measures and forced measures”, providing for operations to block all funds and property in relation to the blocked persons. We are talking about foreign states, foreign organizations and (or) foreign citizens, stateless persons, legal entities controlled by foreigners.
The law establishes the rules for applying special economic measures aimed at the ban (restriction) of financial transactions and freezing funds and other property of blocked persons. This also applies to financial transactions performed in the interests of blocked persons.
In addition, a list of organizations is regulated by the restriction regime in the form of special economic measures (including pawnshops, organizations that carry out the functions of a payment agent, credit cooperations, microfinance organizations). Thus, the organizer of the gambling in the bookmaker or the totalizer is obliged to refuse to accept bets, including interactive ones, and the payment of winning a gambling to which special economic measures are applied.
The law prohibits banks with a cross -border transfer of funds if their recipient is included in the list of individuals in respect of which special economic measures are introduced.