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ARTICLE · 29 JUNE 2022

Foreign Cash Settlement Under Foreign Exchange Contracts Providing For Export

In June 2022, a joint resolution of the Council of Ministers of the Republic of Belarus and the National Bank of the Republic of Belarus dated 07.06.2022 No. 363/13 was adopted in Belarus, ...

BelarusFinance and Banking

In June 2022, a joint resolution of the Council of Ministers of the Republic of Belarus and the National Bank of the Republic of Belarus dated 07.06.2022 No. 363/13 was adopted in Belarus, which provided for the possibility of cash settlement (US Dollars, Euros, Chinese Yuan) under foreign exchange contracts providing for export, concluded between two legal entities, resident and non-resident.

Foreign cash settlement is possible both on the territory of Belarus and on the territory of a foreign country. When importing foreign currency, it is additionally necessary to comply with the requirements of customs legislation.

At the same time, cash settlement does not exclude the obligation of a resident of Belarus to credit foreign currency to the current settlement (bank) account specified in the foreign exchange agreement within the period specified in the agreement, and, if necessary, submit information on the electronic portal of the National Bank, if the agreement

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