On Monday, it was announced that Russia is developing a program to simplify the visa regime with a number of friendly countries. In addition to Syria, Angola, Trinidad, Zambia, and other obvious partners, several Southeast Asian countries were also included, including Indonesia.
However, Russian authorities are not limiting themselves to just visas. The Central Bank has instructed to conduct transactions only with counterparts from friendly countries. This significantly narrows the directions for capital outflow from Russia.
We encountered this when a Russian bank requested us to provide a letter this week confirming that our buyer is not purchasing real estate in an unfriendly country.
Indonesia's neutral status and political stability, along with clear rules for foreign investments, make it one of the main directions for capital outflow from Russia.
On the other hand, payments cannot be sent back to Russia at the moment. But no one is trying to transfer money back either.
However, Russian authorities are not limiting themselves to just visas. The Central Bank has instructed to conduct transactions only with counterparts from friendly countries. This significantly narrows the directions for capital outflow from Russia.
We encountered this when a Russian bank requested us to provide a letter this week confirming that our buyer is not purchasing real estate in an unfriendly country.
Indonesia's neutral status and political stability, along with clear rules for foreign investments, make it one of the main directions for capital outflow from Russia.
On the other hand, payments cannot be sent back to Russia at the moment. But no one is trying to transfer money back either.
