The Russian government issued a decree stipulating the means of payment that Russian companies are to adopt with regard to their foreign debtors.

First, it established a list of “hostile states”: Albania, Andorra, Anguilla, Australia, Canada, South Korea, United States, Gibraltar, British Virgin Islands Iceland, Japan, Jersey, Liechtenstein, North Macedonia, Micronesia , Monaco, Montenegro, Norway, New Zealand, United Kingdom, San Marino, Singapore, Switzerland, Taiwan, Ukraine, European Union.

Then, it instructed Russian banks to open accounts in the name of foreign companies and filll them up with dollars at the official Russian rate. Finally, to indicate to foreign companies that they can withdraw the money, if their government allow them to do so.