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Edict No. 79 on the Application of Special Economic Measures in Connection with Unfriendly Actions of the United States of America and Foreign States and International Organizations Siding with Them - Russian Federation - Russia and the Republics Legal Materials - Second Series
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22476
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Originally from Russia and the Republics Legal Materials - Second Series
Preview Page In connection with unfriendly actions contrary to international law of the United States of America and foreign States and international organizations siding with them connected with the introduction of restrictive measures with respect to citizens of the Russian Federation and Russian juridical persons, for the purposes of the defense of national interests of the Russian Federation and in accordance with federal laws of 30 December 2006, No. 281-ФЗ, “On Special Economic Measures and Enforcement Measures”, of 28 December 2010, No. 390-ФЗ, “On Security”, and of 4 June 2018, No. 127-ФЗ, “On Measures of Impact (or Counteraction) on Unfriendly Actions of the United States of America and Other Foreign States”, I decree:
1. Residents-participants of foreign economic activity shall effectuate the obligatory sale of foreign currency in the amount of 80% of the amount of foreign currency credited beginning from 1 January 2022 in their accounts in empowered banks on the basis of foreign trade contracts concluded with non-residents and providing for the transfer of goods to non-residents, rendering of services to non-residents, fulfillment of work for non-residents, transfer to non-residents of the results of intellectual activity, including exclusive rights thereto, no later than three working days from the day of entry of the present Edict into force.
William E. Butler, Emeritus Professor of Comparative Law in the University of London, attached to University College London, is the John Edward Fowler Distinguished Professor of Law at the Dickinson School of Law, Pennsylvania State University, and Founder and Director of The Vinogradoff Institute.
An authority on the legal systems of Russia and former Soviet nations, he is the author, co-author, editor or translator of more than 3,500 books and articles on Russian, Soviet, Kazakhstan, Ukrainian, Uzbekistan, and other Commonwealth of Independent States legal systems. He has acted as Counsel to the EBRD, European Union, World Bank, United Nations, and Department for International Development of the United Kingdom on individual law reform projects.
The recipient of numerous honors for his service to Russian and international law, Professor Butler is Academician of the National Academy of Sciences of Ukraine and the Russian Academy of Natural Sciences, Associate of the International Academy of Comparative Law, and Member of the Russian Academy of Legal Sciences. He has been elected to his fourth term as a member of the Russian International Court of Commercial Arbitration. In 2003 Professor Butler was awarded the G. I. Tunkin Medal by the Russian International Law Association.
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