“A draft of amendments to the law on banking activity has been finalized. They identify a list of companies that have strategic importance for the Russian economy. Also, they establish a list of transactions that banks perform with such companies. The government and the Central Bank is obliged to determine the criteria crucial to the proper protection of the assets of state-run or strategic companies,” Siluanov said. “These criteria are yet to be established by the government and the Bank of Russia. In the first place this will apply to the amount of the bank’s own funds and the size of capital.”
“The bill in question establishes no bans on the operation strategic companies’ transactions with foreign banks or settlements under foreign contracts,” Siluanov said.