The Ministry of Finance allowed the restoration of currency controls – Kommersant
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Deputy Minister of Finance of Russia Alexey Moiseev said that the government is now considering the option of partially restoring foreign exchange controls. These measures, he said, are needed to curb the outflow of capital to friendly countries. The Bank of Russia opposes this idea.
“At the moment, a number of measures have been developed and are being considered aimed at restoring a number of currency control measures. I would not like to name them now, because the measures are still being discussed, and it is not yet clear which of them will ultimately be implemented,” said Mr. Moiseev, speaking in the State Duma.
“Let me highlight a little: these measures are aimed at the outflow of capital, which is now going through friendly countries,” added the deputy minister. He also believes that these measures will be able to curb short-term exchange rate fluctuations.
Deputy Chairman of the Bank of Russia Alexei Zabotkin responded by saying that the regulator does not support strengthening restrictions on capital movements, RIA Novosti reports.
The news is being updated.
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