the limit of currency conversion when a business leaves Russia will be the same – Kommersant

The limit on currency conversion in the event that businesses from “unfriendly” countries leave Russia will be the same for all transactions. This was announced by Deputy Finance Minister Alexei Moiseev. According to him, this issue is still being considered, he did not give specific figures.

“The limit will be the same, of course,” Mr. Moiseev answered the question about the limit for currency conversion as part of the withdrawal of “unfriendly” business from Russia (quote from “Prime”). “That is, this means that, relatively speaking, the commission allowed the sale of a business for such and such an amount, but you can buy currency within a certain period so as not to violate the limit,” the deputy minister specified.

Alexey Moiseev also clarified that there will be no binding to a specific period during the conversion. “There will be a general restriction, because otherwise we will manipulate the exchange rate, and we don’t want that,” he said.

As previously clarified in the Ministry of Finance, the limit on the purchase of foreign currency on the domestic market as part of large transactions to buy out the business of foreign companies leaving the Russian market may be floating and depend on the situation. As noted in the ministry, this is necessary in order not to destabilize the foreign exchange market.

Earlier Interfax sources reportedthat when the authorities agreed on a deal between Yandex and Uber to buy a share, they introduced a limit on daily currency purchases in the amount of $150 million.

Anastasia Larina