Currency control measures will not affect ordinary citizens – Kommersant

Deputy Minister of Finance Alexei Moiseev said on the Rossiya 24 TV channel that the planned measures on currency control “will not affect ordinary citizens.” According to him, the restoration of currency control involves a multi-million dollar limit for legal entities, but not for individuals.

“I will say that this will definitely not affect ordinary citizens. If it concerns “physicists,” then we are talking about the limit that is now set for the currency – this is a limit of a million dollars per month, which for 99.9% of our citizens is fantastic,” he said (quoted from TASS). Mr. Moiseev noted that the measures are currently debatable.

On September 20, Alexey Moiseev reported that currency control measures were being discussed in the government. According to him, they are needed to curb the outflow of capital to friendly countries. The positions of the Ministry of Finance and the Central Bank on this issue differ. According to Elvira Nabiullina, the outflow of capital, which the Ministry of Finance “fears,” needs to be “treated with completely different methods,” including changing the key rate. She believes that “those currency control measures that are of a mirror, reciprocal nature should remain.”

Why the discussion about regulation of the foreign exchange market continues – in the Kommersant FM article “Capital outflow has changed direction”.

Polina Motyzlevskaya