Vladimir Putin suspends tax treaties with ‘unfriendly’ countries

Russian President Vladimir Putin has suspended several tax treaties with “unfriendly” countries.

The suspension decree was signed on August 8. The decree includes tax treaties signed with the US, the UK, and Canada, and other countries that had imposed unilateral economic sanctions on Russia.

“In view of the need to take urgent measures in connection with the unfriendly actions of a number of foreign states against the Russian Federation, its citizens and legal entities, the President resolved to suspend a number of provisions of tax treaties with the United States of America, European Union countries and other unfriendly states,” an official statement from the President’s office notes.

The suspension was proposed by the Finance Ministry in March 2023.