The amendments concern the amount and timeframe of the mandatory sale by residents participating in foreign economic activities of the foreign currency credited to their accounts in authorised banks on the basis of international trade contracts concluded with non-residents on transferring commodities to non-residents, providing them with services, performing work for them and granting them the results of intellectual activities, including exclusive rights thereof.
The amount of the mandatory sale of foreign currency by residents participating in foreign economic activity shall be determined by the Government Commission on Monitoring Foreign Investment in the Russian Federation; the timeframe for this procedure shall be established by the Central Bank Board of Directors.