currency restrictions in the Russian Federation have yielded results, they will gradually be lifted – Kommersant

Russian Finance Minister Anton Siluanov said that Russian authorities see the result of President Vladimir Putin’s decision to oblige a number of exporters to sell foreign currency earnings. According to him, it is planned that currency restrictions will be gradually lifted.

“This solution is temporary. I hope that the measures that have been taken, the restrictions that exist today, will gradually go away. We saw that they gave their results, we’ll see how the situation develops further,” said Mr. Siluanov during the VTB investment forum “Russia Calling!” (quote from “Interfax”).

The head of the Ministry of Finance did not agree that due to the introduced requirements for exporters, Russia lost its status as a country with the most liberal currency regulation. He emphasized that the financial and economic bloc of the Russian government is interested in the speedy removal of requirements for the sale of foreign currency earnings.

On October 11, Vladimir Putin signed decree, according to which exporters from the closed list are required to credit their accounts in Russian banks with at least 80% of the currency received under export contracts, in order to then sell at least 90% of this amount on the domestic market. On November 30, State Duma deputies approved a government bill on fines for failure to fulfill obligations to sell foreign currency earnings.

Details – in the material “Kommersant” “A percentage was assigned to the revenue”.

Alexander Kislov