Russian President Vladimir Putin has signed a law providing for a number of measures in the economy and social sphere under foreign sanctions. The document was published on the official Internet portal of legal information on Tuesday.

Under the law, the government will be able to carry out additional indexation of insurance pensions, pension coefficient and fixed payment to pensions during 2022. It also establishes the peculiarities of establishing the subsistence minimum in Russia and calculating the minimum wage (MROT).

The procedure for purchasing medicines and medical devices in the country is simplified, special rules for the registration of medicines are introduced, the government is given the right to promptly adjust the license requirements for pharmaceutical activities, and restrictions on the export of certain medicines from the Russian Federation are envisaged. By the end of the year, the Social Insurance Fund (SIF) will be allowed to purchase technical rehabilitation devices (including, for example, prostheses and wheelchairs) from a single supplier.

The government will be able to adjust the rules of admission to Russian universities for Russians who have been forced to interrupt their studies abroad due to the actions of foreign states.

A number of provisions relate to business support in the Russian Federation.

Among them are provisions canceling inspections of small and medium-sized businesses and IT-companies until the end of this year, introducing simplified conditions and procedure for public procurement.

Specifics of application of the legislation on business companies, including norms on calculation of net asset value in 2022, legislation on credits and loans are stipulated.

According to the document, the government is given the right to deviate from a number of norms on licensing and accreditation, from some provisions of legislation in the field of shared construction and intellectual property.

The law was adopted by the Duma and approved by the Federation Council on the same day – March 4. The initiator of the bill was the Russian government.