Foreign companies began to reject transactions to sell assets in Russia.

According to the publication, foreigners are suspending already agreed transactions due to the tightening of the rules for leaving Russia. Since the beginning of October, the minimum discount on the sale of assets has increased from 50% to 60% of the market value, and the amount of voluntary contribution to the budget has increased from 15% to 35%. These requirements apply not only to new transactions, but also to those whose applications have been submitted but not yet reviewed, Forbes writes.

Since spring 2024, the subcommittee has reduced the number of permits issued for this type of transaction, the publication’s interlocutors point out. This may be due to a revision of the conditions of voluntary contribution and changes in the composition of the subcommittee: the former representative of the presidential administration Vladimir Simonenko headed the department for the formation and activities of the State Council and the deputy head of the Ministry. Economic Development Minister Ilya Torosov, who represented the ministry on the subcommittee, left the department in October.

Alisa Melkonyan, partner in Kept’s tax and legal consulting department, notes that due to the tightening of conditions, many transactions, including those already agreed, will likely return to the negotiation stage. According to Irina Kocherova, a lawyer at the CLS corporate law firm, more than two hundred transactions are pending consideration in the subcommittee’s queue.

• The contribution on transactions involving the departure of foreign companies from Russia was introduced in December 2022. From January 2024 to August, the federal budget received about 140 billion rubles in income from contributions.