1. Bank of Russia Resumes Publishing Balance of Payments, International Investment Position, and External Debt
The Bank of Russia has announced the resumption of its quarterly publication, the Digest on the Balance of Payments, International Investment Position, and External Debt of the Russian Federation.

• This publication will enhance users’ understanding of current trends in Russia’s external sector and support more detailed analysis of the factors influencing the Bank of Russia’s monetary policy decisions.

• Based on detailed statistical reporting, the digest provides an analysis of the dynamics of key indicators for the balance of payments, international investment position, and external debt of the Russian Federation, as well as the reasons for changes in these indicators.

• The digest will be published quarterly, in line with the release of reporting data on Russia’s balance of payments, offering a comprehensive foundation for understanding Russia’s external payments, investments, and debt developments.

2. Digital Ruble Budget Payments to Be Fee-Free
The Bank of Russia has decided that, starting 1 January 2026, individuals and companies will pay no fees to the state budget for transactions conducted through their digital ruble accounts.

• Access to these transactions is initially limited to participants in the pilot project.

• From 1 September 2026, major banks will be required to enable all customers to open digital ruble wallets, manage balances, and make budget payments using digital rubles.

• The regulator previously extended the fee-free period for all other commercial transactions with digital rubles until the end of 2026. For individuals, payments and transfers using the digital national currency remain free of charge at all times.

• This measure aims to promote the adoption of digital currency in domestic budget payments, increase payment efficiency, and reduce transaction costs.

3. Payments on Belarusian Eurobonds via Russian Financial Infrastructure
From 2026, holders of Eurobonds issued by the Republic of Belarus will be able to receive coupon payments and redeem their bonds via Russian financial infrastructure, as the Bank of Russia has extended this mechanism.

• Eurobond holders may also opt to substitute their bonds with Belarusian government securities.

• Payments on Eurobonds issued by JSC Development Bank of the Republic of Belarus (ISIN XS1904731129 / US25161EАА91) will continue to be facilitated through Russian infrastructure, allowing investors to redeem their bonds if needed.

• These measures ensure that payments and substitutions for Eurobonds are executed without involving foreign clearing institutions, simplifying cross-border operations and improving the efficiency and security of payments.