Federal Law No. 213-FZ (Law 213-FZ) introduced new regulations for bank accounts of strategically important companies to the defence industry complex and safety of the Russian Federation (strategic companies). The law also applies to companies under the direct and indirect control of the strategic companies.
According to Law 213-FZ, the number of lending institutions in which the strategic companies may carry out certain banking operations, such as, the opening of accounts and paid letters of credit, the opening of bank deposits and the acquisition of securities, is limited. Strategic companies may establish relations to carry out the relevant operations only with the following lending institutions:
- Lenders that have the amount of internal funds exceeding the minimum established by the Russian government coordinated with the Central Bank of the Russian Federation;
- Lenders under the direct or indirect control of the Russian Federation or the Central Bank of the Russian Federation (the Central Bank);
- Vnesheconombank; and
- Other lending organisations defined by the Russian government.
The list of these lenders (List) is published on the Central Bank’s website.
If a lender does not meet the above requirements, then the strategic company is obliged to close its bank account contract with that lender within one year after the publication of the above List on the Internet.