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2018 August 6 13:50

Vladimir Putin signs Federal Law on ruble tariffs in Russian seaports

On 3 August 2018, Russian President Vladimir Putin signed the Law “On introduction of amendments into the Federal Law “On seaports of the Russian Federation and on introduction of amendments into certain legislative acts of the Russian Federation” according to which prices for services offered in seaports of the Russian Federation should be set in rubles, says Kremlin.

The law was earlier approved by the State Duma of the Russian Federation (on 26 July 2018) and by the Federation Council (on 28 July 2018).

According to the newly signed law, Article 18 of the Federal Law “On seaports of the Russian Federation and on introduction of amendments into certain legislative acts of the Russian Federation” is expanded with a provision requiring that prices for services offered in seaports should be set in rubles except for cases foreseen by the federal laws.

The Federal Law also specifies that this requirement does not apply to Russian legal entities which have foreign currency obligations assumed as of 1 January 2018 for implementation of investment projects aimed at the development of seaports’ infrastructure till fulfillment of those obligations but not later than 1 January 2025.

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Russia’s State Duma passed the bill on ruble tariffs to be applied in seaports >>>>