Validity of certain specific powers of the Bank of Russia extended until December 31, 2026

The Federal Law extends, until December 31, 2026, the validity of certain specific powers of the Bank of Russia on the financial market in order to protect national interests and ensure the financial stability of the Russian Federation in connection with the unfriendly actions of foreign states.

The Federal Law also invalidates the powers of the Government of the Russian Federation to extend the list of lending organisations approved by the Bank of Russia for performing certain transactions of state corporations, state-owned companies and public not-for-profit companies, as well as business entities of strategic significance for the military industrial complex and security of the Russian Federation (in case of restrictive measures imposed by a foreign state against such lending organisations).