"Establish that the fulfillment of obligations of the Russian Federation (the guarantor) state pertaining to guarantees that are provided in foreign currency ... to beneficiaries who are Russian and foreign legal entities and individuals, international financial organizations, is carried out with consideration of the specifics provided by this decree," the document read.
According to the document, Russia will fulfill its obligations in rubles if requested by a beneficiary. However, even in the absence of such a request, Russia may pay a beneficiary in rubles if it is impossible for it to fulfill its obligations in foreign currency. The money is then transferred to an account opened at the request of the Russian Finance Ministry with an organization that acts as the Russian government's agent in matters of providing state guarantees. Currently, this is Russian state corporation VEB.RF.