The federal law introduces special rules for executing budgets of Russia’s budgetary system in 2022, aimed at maintaining the financial stability of the Russian regions’ budgets amid external sanctions pressure.
The Ministry of Finance is authorised by the federal law to allocate loans totalling 390.7 billion rubles from the federal budget in 2022, so that Russian regions can repay their debt obligations in the form of obligations on state (municipal) securities and loans received by Russian regions (municipalities) from credit institutions, foreign banks and international financial institutions.
The federal law also provides for the exemption of Russian regions from repaying in 2022 debts on budget loans provided to them earlier, and a number of other anti-crisis measures.