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Official website of the President of Russia

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Central Bank authorised to control financial institutions’ transition to predominant use of Russian software, digital products and telecommunications equipment

June 13, 2023

The President signed Federal Law On Amendments to Federal Law On the Central Bank of the Russian Federation (The Bank of Russia).

The Federal Law contemplates vesting the Bank of Russia with authority to approve plans of credit and non-credit financial institutions to transition to the predominant use of Russian software, domestic radio electronic products and telecommunications equipment, including as part of hardware or software systems, at critical information infrastructure facilities they own, and also the authority to control compliance with the implementation of the above plans and procurement of foreign-made software and related services.

June 13, 2023