Key takeaways

• 2018 is expected to bring a number of changes to the system of regulation of currency operations in Russia.
• As from 1 January 2018, a new procedure for registration and control over currency operations will take effect: Russian residents will no longer have to open a passport of transaction (“pasport sdelki”) for a foreign trade contract, instead they will need to register it.
• As from 14 May 2018, the rules for currency operations, including repatriation of currency, and the rules of administrative liability for the breach of currency laws will be updated.