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04Aug18


Putin signs bill on setting prices in Russian ports in national currency into law


President Vladimir Putin has signed the bill stipulating prices and tariffs on services in the country’s ports set in Russian rubles into law. The document passed by the State Duma (lower house of parliament) on July 26 and approved by the Federation Council (upper house) on July 28 was published on the official website of legal information on Friday.

Amendments green-light tariffs, prices and rates set in foreign currency or notional currency units only in cases provided for by the federal law. The legislation is aimed at securing Russian legal entities against a substantial price growth in seaports due to the national currency’s exchange rate fluctuations.

The document specifies a transition period until January 1, 2015 for Russian legal entities with foreign exchange liabilities for investing in seaport infrastructure development as of January 1, 2018.

[Source: Itar Tass, Moscow, 04Aug18]

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