The Executive Order regulates the application of certain executive orders of the President of the Russian Federation.
Under this Executive Order, the prohibitions set forth in Paragraph 3 of Executive Order of the President of the Russian Federation No. 79 On Imposing Special Economic Measures in Connection with the Hostile Actions of the United States in League with Other Foreign States and International Organisations, signed on February 28, 2022, do not apply to the Asian Infrastructure Investment Bank, the International Bank for Economic Cooperation, the International Investment Bank, the New Development Bank, and the Russian-Kyrgyz Development Fund.
The Executive Order also lists the requirements that do not apply to the aforementioned financial institutions, contained in Executive Order No. 81 of March 1, 2022, On Additional Temporary Economic Measures to Ensure the Financial Stability of the Russian Federation, No. 95 of March 5, 2022, On a Temporary Procedure for Meeting Obligations to Certain Foreign Creditors, and No. 254 of May 4, 2022, On a Temporary Procedure for Meeting Financial Obligations as part of Corporate Relations to Certain Foreign Creditors.