Russia Introduces Bills to Counter Sanctions
Russia is considering new bills that would counter anti-Russian sanctions through criminal charges and the creation of an “‘unreliable’ payment processors list,” according to a July 30 Lexology report and notices from the Russian State Duma.
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If adopted, a criminal liability bill would levy a maximum five-year prison sentence and a nearly $80,000 fine for spreading information on anti-Russian sanctions or helping organizations impose the sanctions, the report said. The bills’ main purpose, the report said, is to “protect companies that maintain relations with sanctioned persons from being added to U.S. sanctions lists.” The bills could “significantly complicate” communication between companies in Russia and the U.S. or European Union, the report said. But the portion on criminal liability is “unlikely” to pass in its current form because of criticism from the Russian Federal Council, which said it is too broad, the report said.
Another bill would allow the Bank of Russia to create an “‘unreliable’ payment processors” list, the report said, which would include foreign entities that cancel agreements with Russian people or companies because of sanctions. The bill would ban Russian credit institutions from doing business with companies on the list and force them to cancel any existing agreements within six months of a company being added to the list.