The Central Bank wants to expand the list of exporters providing information about their assets
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The Bank of Russia plans to almost double the list of largest exporters providing information about their assets and liabilities, follows from the regulator’s message. The updated list will include companies whose export revenues or average monthly debt on obligations to non-residents will exceed $1 billion in 2023.
“In particular, companies will have to send information not only about assets and liabilities in foreign currency, but also about balances on ruble accounts in foreign banks, as well as debt in rubles to non-residents,” the document says. message.
As a result, the list of such exporters will approximately double. The corresponding draft guidance has been posted for discussion. Suggestions and comments will be accepted until January 17, 2024 inclusive. The list of these exporters will not be published. The Central Bank will notify companies about inclusion in it on an individual basis.
By words Chairman of the Central Bank Elvira Nabiullina, based on the results of November this year, the share of net sales of foreign currency earnings by exporters may approach 100%. In October the figure was 91%, in March – 98%, in October 2022 – 107%. Ms. Nabiullina emphasized that the decision on the mandatory sale of foreign currency earnings is temporary and will be canceled in the future.
In October, Vladimir Putin signed a decree according to which exporters from a 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”.
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