Putin Approves Special Procedure for Payments in Rubles, Foreign Currency for Agri-Exports

MOSCOW (Sputnik) - Russian President Vladimir Putin has signed a decree on the establishment of a special procedure for settlements under foreign trade contracts for the supply of Russian agricultural products, the document published on the official legal portal said on Tuesday.

The document read that the list of Russian agricultural products subject to payments via the special procedure should be approved within 30 days. The decree will be in effect starting November 1, 2023.

"To establish that while making payments under foreign trade contracts for the supply of Russian agricultural products, concluded by residents participating in foreign economic activity with foreign buyers at organized auctions, it is allowed to use special ruble accounts and special currency accounts," the decree read.

It added that the payments would be carried out via special bank accounts in rubles and foreign currencies that would be opened on requests from foreign customers.