Russian Finance Minister Siluanov confirms that the conditions for foreigners to leave Russian assets have been tightened

Russian Finance Minister Siluanov confirms that the conditions for foreigners to leave Russian assets have been tightened

MOSCOW. October 17 (Interfax) – The Committee on Foreign Investment of the Russian government has changed the conditions for approving transactions with residents of “unfriendly” countries for the sale of their Russian assets, reducing the amount to be paid to the budget increased to 35% of a deal’s value. mandatory discount on an independent market valuation of up to 60%, Russian Finance Minister Anton Siluanov told journalists.

“(The one-time payment will increase) as much as from 15% to 25%, plus 5% one year and 5% the next, so 35% in total. And the discount for foreigners increases from 50% to 60%,” said he.