The Federal Law reduces administrative liability for a number of violations of Russia’s currency control laws.
The law also establishes that administrative liability does not apply to a resident if their failure to comply with a particular requirement of currency control legislation was due to restrictive measures imposed on citizens of the Russian Federation or Russian legal entities by foreign states that commit unfriendly acts against the Russian Federation. This provision applies to legal relations established during the period from February 23 to December 31, 2022.