New Russian draft law would block ‘foreign agents’ from accessing earnings in Russia, allow transferring funds to the state

A new Russian draft law on the “activities of individuals under foreign influence” would prevent people designated as “foreign agents” from accessing money earned in Russia until their status is lifted, announced State Duma Speaker Vyacheslav Volodin.

The draft law, set to be introduced to the State Duma on November 14, requires “foreign agents” to open a special ruble-denominated account for “any income from creative activities.” Volodin stressed that “foreign agents” can only use the funds from this account “once their status is revoked.” The law also permits court-ordered transfers of these funds to the state budget.

Additional provisions, to be introduced in the second reading, will address income from property sales and rentals. Volodin had previously stated that funds could be accessed only personally and within Russia, but at that time, he did not mention that the “foreign agent” status must be lifted to access the funds.