The Central Bank advocated maintaining only foreign exchange restrictions in response to Western sanctions

The Bank of Russia is in favor of maintaining currency restrictions for businesses, which are significant in terms of response to sanctions. The rest must be removed, in connection with which the regulator is conducting an inventory of measures already taken, said Central Bank Chairman Elvira Nabiullina. She noted that now a large amount of various restrictions has been accumulated, and it is difficult for businesses to navigate.

“And the position of the Bank of Russia is that it is necessary to leave only those of the currency restrictions that are significant in terms of response measures. The rest need to be removed and given more opportunities and freedom to businesses to build new logistics routes, relationships with contractors,” Ms. Nabiullina said at a press conference (quoted by TASS).

According to special measures in the field of currency regulation, Russian legal entities and individuals cannot pay shares in the property of foreign legal entities, and the Central Bank determines the amount of money transfer transactions to foreign companies and individuals. special measures operate through December 31, 2023.

Read about the work of business under sanctions in the publication “Kommersant FM” “Business relies on backup options”.

Maria Fedotova