Transport

At present entry is permitted only if a deposit is paid on the border, the size of which depends on the year of manufacture of the vehicle and its engine size and may reach thousands of euros in the case of an average vehicle. The deposit is returned after the vehicle has exited the territory of Russia, Swedbank said.

Swedbank said it is informed about the case that caused the restriction, has made formal inquiries with relevant Russian authorities and is waiting for further information. 

The restriction was imposed in connection with the violation of border regulations by one vehicle belonging to Swedbank Liising.

In September 2018, amendments to the customs law took effect in Russia which introduced additional requirements concerning the import of vehicles belonging to leasing companies into Russia. In accordance with the law, only one vehicle belonging to a specific individual or company may stay in the territory of Russia at any given time, whereas on each following vehicle a security deposit equaling the relevant Russian import taxes and levies has to be paid. 

An exception was made to the vehicles belonging to leasing companies until the first violation involving such vehicle. The latter means that if a vehicle belonging to a leasing company fails to return to Estonia by the declared return time, vehicles belonging to that company will be no longer permitted to enter the territory of Russia.