Putin allowed Russian banks under sanctions to stop some transactions in the currencies of those countries that imposed sanctions

Russian President Vladimir Putin signed a decree that allows Russian banks that have fallen under sanctions to freeze some transactions in the currency of those countries that have imposed these sanctions.

In particular, banks will be able to stop the fulfillment of obligations on accounts or deposits of legal entities and individual entrepreneurs. Including the transfer and issuance of money can be frozen - but only those that have been credited to the account or deposit after the decree came into force.

If obligations on accounts or deposits in a certain currency are temporarily not fulfilled, no interest will be accrued on the money received on this account or deposit.

At the same time, the amount of obligations that banks are temporarily allowed not to fulfill should not exceed the amount of assets frozen due to sanctions.

• abroad were frozen After Russia's invasion of Ukraine , about half of the gold and foreign exchange reserves of the Central Bank of the Russian Federation - $ 300 billion . Also in Europe and the United States, the funds of Russian companies and large businessmen were blocked.
• The Russian authorities called the blocking of Russian assets abroad illegal and announced a policy of abandoning the currencies of "unfriendly" countries - primarily the dollar and the euro. In particular, Vladimir Putin converted payments for Russian gas into rubles.
• On August 4, the Central Bank of Russia released a report in which it announced additional measures to reduce bank operations in dollars and euros.