The Russian Ministry of Finance has published Letter No. 03-03-06/1/9525 of 15 February 2019 concerning the deductibility of contractual fines, penalties, etc. awarded by a decision of an international arbitration court. The letter includes that under the Russian Tax Code, non-operating expenses include expenses recognized or payable by a debtor as a result of a court decision, including contractual fines, penalties, and/or other sanctions imposed for the violation of contractual obligations,…