From January to September 2025, the Bank of Russia identified a number of violations of the Russian President’s executive orders that establish the rules for conducting transactions with non-residents and are aimed at ensuring financial stability. The regulator has already taken punitive action against the professional securities market participants (PSMPs) concerned.
Specifically, the violated regulations include Executive Order of the President of the Russian Federation No. 81, dated 1 March 2022, ‘On Additional Temporary Economic Measures to Ensure Russia’s Financial Stability’; Executive Order of the President of the Russian Federation No. 95, dated 5 March 2022, ‘On the Temporary Procedure for Meeting Obligations to Certain Foreign Creditors’; Executive Order of the President of the Russian Federation No. 138, dated 3 March 2023, ‘On Additional Temporary Economic Measures Related to Securities Trading’; and Executive Order of the President of the Russian Federation No. 520, dated 5 August 2022, ‘On Special Economic Measures in the Financial and Fuel and Energy Industries in Connection with Unfriendly Actions of Certain Foreign States and International Organisations’.
The Bank of Russia has made decisions to impose fines totalling over ₽20 million on five financial institutions acting as PSMPs and has cancelled licences of three depositories.
The Bank of Russia will continue to closely monitor PSMPs’ compliance with the requirements of the anti-sanction regulation and publish information about the violations identified and penalties imposed on its website.
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