Deadline for introducing the technology levy may be pushed back to December
As part of amendments to the Budget Code and related legislation, the Ministry of Finance has proposed delaying the introduction of the technology levy until 1 December 2026. The move follows feedback from industry associations. The levy had previously been scheduled to take effect on 1 September 2026, with the Ministry estimating additional budget revenues of RUB 20 billion this year.
The initiative was first put forward by the Ministry of Industry and Trade in the summer of 2025. The levy is expected to apply to electronic products, including smartphones, laptops and computers, with manufacturers and suppliers responsible for paying it. Industry groups RATEK and AKIT had earlier warned about the measure’s potential impact on businesses and called for changes to the calculation methodology as well as a later implementation date.
Presidential decree on settlements with foreign creditors extended to bank deposits
A presidential decree amending Decree No. 95 of 5 March 2022, which introduced temporary procedures for fulfilling obligations to certain foreign creditors, has been published. The new rules now also cover bank deposits and took effect on 1 June 2026.
Under Decree No. 95, Russia settles obligations owed to creditors from “unfriendly” jurisdictions through special Type C accounts rather than foreign currency payments. The mechanism applies to liabilities exceeding RUB 10 million per month. The latest changes point to a further expansion of capital control instruments affecting cross-border financial flows.
Nordline cleared to acquire a stake in Arctic LNG 2
President Vladimir Putin has authorised Nordline to purchase TotalEnergies’ 10% stake in the Arctic LNG 2 project. The approval was granted under Presidential Decree No. 520 of 5 August 2022 on special economic measures.
Nordline is a subsidiary of NOVATEK, which holds a 60% interest in the project. Chinese companies CNPC and CNOOC, as well as the Japanese consortium Mitsui and JOGMEC, each own 10%. The decision reflects the continuing trend of foreign investors’ stakes in sanctioned projects being transferred to Russian entities.
Bailiffs seek to recover more than RUB 25 billion from Euroclear Bank
According to media reports, the Federal Bailiff Service plans to recover RUB 25.4 billion from Belgium-based Euroclear Bank through 47 enforcement proceedings launched since October 2024. In parallel, an arbitration appeals court rejected Euroclear’s challenge and upheld a ruling in favour of the Central Bank of Russia in its RUB 18.2 trillion claim against the Belgian depository.
The litigation comes amid ongoing discussions within the EU over the possible use of frozen Russian assets to support Ukraine. The developments can be seen as a means of preserving the Russian side's claims and as part of a broader negotiating strategy. The risk of Russian authorities seizing assets belonging to the bank’s clients in Russia remains low.
State Duma approves amendments to the law on the business ombudsman
The State Duma has passed amendments to the law governing Russia’s commissioner for entrepreneurs’ rights. The changes clarify the status of the office and provide for the establishment of a non-profit organisation to support the ombudsman’s activities, with the state acting as one of its founders. Alexander Shokhin, head of the Russian Union of Industrialists and Entrepreneurs (RSPP), is widely expected to assume the role.
At the same time, Shokhin called for foreign companies that continue to operate in Russia in good faith to be treated on equal terms with domestic businesses. He noted, however, that dividends generated by Russian subsidiaries should not be used for purposes that run counter to Russia’s national security interests.