Bailiffs began to block payments of collectors associated with foreigners

Banks and collection agencies with foreign participation are faced with the problem of debt collection through the Federal Bailiff Service (FSSP), three market sources told RBC. According to one of them, in recent days, the FSSP has begun to “freeze any recovery” in favor of some market participants with foreign roots, perceiving these organizations as non-residents and guided by presidential decrees on Russia’s response to Western sanctions . Another interlocutor of RBC confirmed that the problem exists, and called it "the kurtosis of the performer."

Alexander Naumov, deputy HEAD of the National Council of the Financial Market, said that his organization has received similar complaints from banks and is preparing letters on this topic to government agencies. The Association of Banks of RUSSIA is also aware of the situation, said Sergey Klimenko, head of the legal department of the ADB. The National Association of Professional Collection Agencies reported that some members of the association "drawn attention to the decrease in payments to them." NAPCA turned to the bailiff service for clarification. RBC sent a request to the FSSP.

Why Russian retaliatory sanctions affected collectors

Since February 24, Russia has been conducting a military operation in Ukraine, after it began, the authorities of the United States , the European Union, Great Britain and other countries adopted several packages of restrictive measures against Moscow. March 1, President Vladimir Putinsigned a decree issued in response to Western sanctions. The document, in particular, provides for restrictions on transactions and operations of Russian companies or persons with residents of unfriendly countries (now there are 48 states on the list). We are talking not only about organizations registered abroad and operating there, but also controlled from abroad, for example, having foreign beneficiaries. Operations with such companies can now be carried out only after receiving the approval of a special government commission. On March 5, Putin signed a decree on a new procedure for settlements with certain foreign creditors. The document provides for restrictions on the repayment of obligations to foreign creditors if the debt exceeds 10 million rubles.

The adopted decrees on counter-sanctions are subject to various interpretations, says Timur Tazhirov, a lawyer at Forward Legal. “It is not surprising that the FSSP could overly broadly interpret the restrictions on the execution of loan agreements to residents of the Russian Federation with foreign participation,” the lawyer concludes.