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Translated by Ollie Richardson & Angelina Siard

22:05:29
22/03/2017

politnavigator.net


The State Duma of the Russian Federation on 22.03.17 adopted the final changes to the law on the national payment system, which imposes a ban on financial transfers by means of foreign payment systems from the territory of Russia to countries that limited the actions of Russian system of transfers.

The bill became the counter response to the cancellation of activity of a number of Russian payment systems, including “Zolotaya Korona” and “Unistream” in Ukraine at the end of October last year. On November 3rd, the National Bank of Ukraine banned translations made through Russian payment systems.

The vice-chairman of the Committee on the financial market Yury Oleinikov, who reported on the issue, stated that all comments of the Government of the Russian Federation were considered in the final reading.

“In the full structure of the committee we went and saw the work of the administrative center our payment system in order to be convinced of the opportunities of direct and indirect control in connection with the changes made,” said Oleinikov.

“The transfer of money to the territory of such a State can be done only through the help of an operator that is controlled by Russian legal entities. And as activity is forbidden in such a foreign State, for example, like in Ukraine, so it is about the actual banning of transfers to physical persons through a payment system that the people call express-transfers. Like many centuries ago, the saying of the great Saint Alexander Nevsky is correct today: whoever will come to us with a sword, from a sword will perish,” stated the deputy Igor Divinsky from a tribune.

Stalker Zone note:

This adoption of the changes to this law explains what will happen to those Ukrainian commuters who come en masse to earn a living in Russia. They will not be able anymore to transfer funds promptly.

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