The Ministry of Finance will be the Department’s counter-sanctions

The Ministry of Finance will be the Department’s counter-sanctions

MOSCOW, July 20 — RIA Novosti. Dmitry Medvedev signed a decree on the establishment of the Treasury Department for counter sanctions against Russia and Russian legal entities. The document is published on the website of the Cabinet.

It gives the Finance Ministry the right to increase the number of its departments from 24 to 25.

“The Ministry of Finance of the Russian Federation carries out interagency coordination on the development and implementation of measures to reduce the negative impact and anti-restrictive measures in the financial sector against the Russian Federation and Russian legal entities,” describes a new feature of the office document.

In this regard, the Ministry would have the authority to interact with foreign government agencies and international organizations on issues of financial sanctions.

First Vice Prime Minister — Minister of Finance Anton Siluanov in April, spoke about the government’s plans to create one of the departments special structure for interaction with the sanctioned companies and helping them. However, he did not specify under what authority will this structure.