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International Payments from Russia for Legal Entities

Despite changes in the international financial system, Russian companies continue to pay for imported deliveries, foreign services, equipment, and raw materials. However, today an international payment is not just a bank transfer. Each operation undergoes bank verification, which is obligated to assess the transaction’s legality, economic purpose, and compliance with currency legislation and internal compliance requirements.

To ensure the payment is executed without additional requests and delays, it is important to prepare documents in advance and ensure that all information is consistent.

1. Payment basis

Any international transfer must have documentary confirmation. Usually, the basis is:

  • foreign trade contract;
  • invoice;
  • specification;
  • service agreement;
  • additional agreement.

The bank checks the payment amount’s correspondence to the contract terms, settlement currency, and transaction subject.

2. Verification of the foreign counterparty

Before the payment, the bank analyzes the foreign company. The following are verified:

  • registration country;
  • sanction restrictions;
  • business reputation;
  • bank details;
  • existence of fictional activity indicators.

If the supplier was recently registered or works through intermediaries, the bank may request additional explanations.

3. Document package

The standard package usually includes:

  • contract;
  • invoice;
  • specification;
  • payment order;
  • if necessary—transport documents or acts of performed services.

All documents must contain identical party details, transaction cost, and description of goods or services.

4. Payment purpose

The payment purpose must include reference to the contract and invoice, as well as a brief transaction subject description. Phrases like «payment under contract» without specific details often become the reason for additional bank requests.

5. Economic transaction justification

The bank must understand why the company needs this payment. During verification, the following are assessed:

  • whether the goods correspond to the company’s activities;
  • how justified the cost is;
  • whether there is commercial purpose of the operation;
  • whether the transaction is transit.

The clearer the economic logic of the transaction, the faster the verification is.

What to check before sending the payment

  • The contract and invoice contain identical details.
  • The currency corresponds to the contract terms.
  • The payment amount matches the invoice.
  • The payment purpose contains references to the documents.
  • The counterparty has been pre-verified.
  • Documents do not contain contradictions.

Properly prepared documents significantly reduce the probability of additional bank requests and allow conducting the international payment as quickly as possible.