According to the conclusions from the Official Explanation of the Bank of Russia dated 05.09.2022 No. 9-OR, subparagraph “b” of paragraph 1 of Decree No. 430 prohibits residents from enlisting foreign currency received in the form of shares dividend of Russian joint-stock companies to accounts opened in banks and other financial market organizations located outside the territory of the Russian Federation. This prohibition extends both to enlisting foreign currency received in the form of Russian joint-stock companies shares dividend to residents` foreign accounts as a result of the subsequent transfer of such funds previously enlisted to the Russian credit institution account, and to enlisting such foreign currency directly to foreign accounts of residents, avoiding the Russian credit institution account. The authorized bank, as a currency control agent, in the case of transferring funds in a foreign currency by a resident from his accounts opened with this authorized bank to foreign banks accounts, must verify, on the basis of information provided by the resident, whether the transferred funds are dividends or not. The relevant information can be obtained by an authorized bank from a resident in any form.

If the specified funds are received as a result of shares dividend payment of Russian joint-stock companies, the authorized bank refuses to carry out such operation as contrary to the requirements of subparagraph “b” of paragraph 1 of Decree No. 430.