On 26 December 2024, the Federal Law No. 479-FZ “On Amendments to the Federal Law ‘On Advertising’ and Certain Legislative Acts of the Russian Federation”  (hereinafter referred to as the “Law”) was published. This Law in particular, is aimed at regulating issues of advertising of credits (loans).

On July 19, 2024, "Bill No. 676816-8 “On Amendments to the Federal Law “On Banks and Banking Activities and Certain Legislative Acts of the Russian Federation" (hereinafter - the "Bill") was submitted to the State Duma of the Russian Federation, providing for the possibility of opening branches of foreign banks in the territory of the Russian Federation. The Bill establishes the procedure and conditions for the operation of branches of foreign banks in Russia, as well as the procedure for their accreditation and the list of permitted banking operations.

On 24 January 2024, the State Duma Committee for the Financial Market proposed to adopt for consideration Draft law № 531412-8 “On Amending Article 45-6 of the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)"” (hereinafter - the “Draft law”).

The authors of the Draft law were a group of senators and deputies led by Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market.

The Draft law proposes to authorize the Bank of Russia to limit the share of loans secured by a pledge of buildings, structures, land plots, construction in progress, residential and non-residential premises and parts of buildings or structures (parking spaces) intended to accommodate vehicles.

By Resolution No 2530-r dated 20 September 2023 the Government of the Russian Federation established a list of friendly and neutral countries, credit institutions and brokers from which will be admitted to trading on the Russian foreign exchange market, as well as on the derivatives market.

At the end of 2022 the new Law was adopted, which extended numerous counter-sanctions measures. Among other things it extends the ban on Russian insurers to conclude transactions with number persons until 31 December 2023.

Under a new Decree No. 529 "On the temporary procedure for the performance of obligations under bank account (deposit) agreements denominated in foreign currency and obligations under bonds issued by foreign entities" several amendments were made to the way credit institutions and entities could fulfil their obligations.

On July 13, 2022, the President of Russia has signed the Federal Law No. 235-FZ “On Amendments to Article 15.25 of the Code of Administrative Offences of the Russian Federation”, which introduced significant changes in the application of administrative liability measures for violation of currency legislation.

On July 5, 2022, the President of the Russian Federation issued Decree No. 430 “On the Repatriation of Foreign Currency and the Currency of the Russian Federation by Residents Participating in Foreign Economic Activity”.