Sberbank called for easing restrictions on the export of foreign currency for foreign trade

Sberbank believes that it is possible to ease restrictions for companies on the export of cash currency from Russia, said Anatoly Popov, deputy chairman of the bank’s board. The Central Bank (CB) said they do not plan to ease the current currency restrictions.

Mr. Popov is convinced that the introduced measures “allowed to accumulate a comfortable level of cash liquidity” in Russia. “We consider it possible to somewhat ease restrictions on the export of cash by legal entities,” said the deputy chairman of the board of Sberbank on the sidelines of the St. Petersburg International Economic Forum.

Deputy Chairman of the Central Bank Alexei Zabotkin, however, said that “significant changes” in the imposed restrictions are not planned. “At the moment, we believe that the current currency restrictions correspond to the current configuration of sanctions. Those restrictions that remain are related to the continuing effects of sanctions on the functioning of the financial sector,” he said at a briefing (quoted by TASS).

In March 2022, as part of the sanctions European Union And USA banned the import of euro banknotes and dollar banknotes into Russia. From March 2 of the same year, it was forbidden to export currency over $10,000 from Russia. When entering the Russian Federation with an amount of more than $10,000, it must be declared. the Central Bank also restricted the amount of money transfers abroad for residents up to $ 5 thousand per month, but later the limit raised up to $10 thousand

Laura Keffer