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RF President Vladimir Putin signed a new bill on anti-crisis measures

8 March 2022

On March 8th 2022, amid international sanctions imposed on the RF, Russian President Vladimir Putin signed a new bill providing several financial and social support measures. The bill that has entered into law, was passed by the State Duma and endorsed by the Federal Council on March 4th 2022.

Regarding social support measures, the new law permits the RF Government to raise pension points, non-contributory pensions and the fixed pension payment during this year and provides a procedure for establishing the minimal wage and subsistence minimum in the RF. In addition, the law liberates the procurement of medical goods and drugs, permits the government to install requirements for pharmaceutical licensing and envisages restrictive measures on exportation of particular drug types. Furthermore, the new law grants the government with the right to set the admission rules to Russian high education institutions for Russians that were forced to discontinue their education in foreign countries due to actions taken by those.

The new law also establishes several new provisions aimed to support the Russian business sector. One measure includes the suspension of inspections of small and medium businesses and IT companies until the end of this year. In addition, the bill sets out the laws applying to entities as well as those regarding loans and the calculation of values of net assets in 2022. More information on the measures imposed within the new bill can be found here (in Russian).