March 21
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The Russian government has expanded its list of unfriendly countries and territories to add the Bahamas, as well as Guernsey and the Isle of Man to it, according to the Russian Cabinet press service, RIA Novosti reported.

“The government has expanded the list of foreign countries and regions that have committed unfriendly acts against Russia, Russian companies and citizens. An order has been signed for this purpose. The list [now] includes Guernsey and the Isle of Man, which support the sanctions imposed by the UK on Russia, Russian citizens and companies.”

In addition, the list now includes the Bahamas, which prohibit transactions with the Bank of Russia, the Ministry of Defense of Russia, and a number of financial and credit organizations of the country.

It is emphasized that the document was approved for the implementation of the decree by the President of Russia Vladimir Putin “On the interim procedure for the fulfillment of obligations to certain foreign creditors.” Accordingly, citizens of the Russian Federation and companies, the state itself, regions and municipalities with foreign creditor obligations to foreign creditors from the aforesaid list of unfriendly countries will be able to pay them in Russian rubles.

“To do this, the borrower may ask a Russian bank to create a special ruble account ‘C’ in the name of the foreign creditor, and transfer it to him in ruble equivalent at the Central Bank exchange rate on the payment date. The provisional procedure applies to payments exceeding 10 million rubles (or a similar amount in currency equivalent) per month,” it added.

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