Putin signs law on financial system in Crimea and Sevastopol

MOSCOW: President Vladimir Putin on Wednesday, April 2, signed the Federal Law “On Special Operation of the Financial System in the Republic of Crimea and City of Federal Importance Sevastopol during the Transition Period”.

The law sets out the special features for operation of banks, non-bank financial institutions and currency exchange offices during the transition period in Crimea and Sevastopol. The law sets out the particular provisions applying to them concerning state registration, obtaining licences, cessation of activity, and also the particular rules for circulation of securities issued by organisations located in Crimea and Sevastopol.