What changes have taken place in the rules of currency control in Russia in 2025 and how do they affect settlements on export contracts with foreign buyers?
In 2025, the Russian government continued to improve the currency control system aimed at increasing transparency and stability of foreign economic transactions. The main changes relate to measures regulating foreign exchange transactions and cooperation with international partners.
Changes in currency control
1. Simplification of requirements for residents
It regulates the reduction of administrative barriers for residents when exporting products and services to foreign buyers. The deadlines for submitting documents to banks have been shortened, and the procedures for identifying counterparties have been simplified.
2. Extending the period of receipt of foreign exchange earnings
The deadline for receiving foreign currency earnings has been extended to 180 business days from the date of shipment of the goods. Previously, this period was 90 days. This change is aimed at easing the financial burden of exporters and adapting to the changing market conditions.
3. Electronic document management
All currency contracts now require mandatory electronic support. Contracts are signed with electronic digital signatures (EDS), which increases the reliability and security of operations.
4. New opportunities for non-residents
Foreign buyers have the opportunity to open accounts in Russian banks to speed up payments. This helps to reduce the risks of unscrupulous buyers and ensures the stability of settlements.
How will the changes affect the calculations for export contracts?
The changes will improve the efficiency and transparency of calculations for export transactions. Exporters will be able to enter into long-term contracts, reducing the risk of revenue loss due to delayed payments. At the same time, the new requirements for the electronic form of the contract will ensure faster transaction processing and the elimination of fraud.
The 2025 reforms are aimed at creating favorable conditions for the development of Russian exports and the integration of the economy into global markets.