Putin signs law to speed up bank transfers for defense orders

Russian President Vladimir Putin signed a law accelerating the transfer of transactions and funds under state defense orders from banks that lose their authorized status to PSB. The law requires such banks to close accounts and halt operations within 30 days.

Scraper SystemJuly 04, 2026, 10:44 PM

Putin signs law to speed up bank transfers for defense orders

Russian President Vladimir Putin signed a law accelerating the transfer of escorted transactions and funds under state defense orders (GOZ) from institutions that lose their authorized bank status to PSB, the defense industry's main bank.

According to the document published on the official legal information portal, the law improves the mechanism for transferring escorted transactions (GOZ state contracts and contracts for their execution) from banks removed from the authorized bank category by government decision to PSB.

Previously, the transfer of escorted transactions from banks that lost their authorized status to PSB was not possible until the prime contractor or GOZ contractor transferred the remaining funds in the separate account and closed it. If the contractor failed to do so, the bank escort process could be prolonged.

The new law closes this loophole. It obliges banks that lose their authorized status to close separate accounts within 30 days without the need for GOZ contractors to apply for account closure. At the same time, these banks are prohibited from conducting any transactions on these accounts except for transferring the remaining funds to an account at the defense industry's main bank.

The bank that loses its authorized status will be required to create a register of all open separate accounts under GOZ and submit this register, or information that no such accounts exist, to the GOZ unified information system. The Russian Ministry of Defense will then verify this information.

Additionally, the period for an authorized bank to provide information and documents on calculations related to an escorted transaction upon request of the Federal Treasury is extended from 2 to 5 business days. The procedure for submitting this information and documents will be determined by the Central Bank of Russia in agreement with the Federal Treasury.

The law also expands the list of information that will not be published in the federal product catalog for federal needs. This list will not include information on goods supplied under GOZ for state protection bodies to carry out state protection and for the mobilization preparation and mobilization tasks of the Main Directorate of Special Programs of the President of the Russian Federation.

According to the assessment of the Federation Council Budget Committee, the implementation of the law will contribute to consolidating the accounts of GOZ contractors at the defense industry's main bank.

The law will enter into force 30 days after its official publication, except for provisions for which a different effective date is stipulated.

Putin signs law to speed up bank transfers for defense orders