Russia plans to expand its watchlist of top exporters to include companies with export revenues or debts to non-residents exceeding $1 billion. reported In the materials of the Central Bank of the Russian Federation.
The list may therefore double, as stated in the regulator’s message published on its website. The Ministry announced that company lists will not be announced, but organizations will be informed individually about their inclusion in these lists. In addition to information on assets and liabilities denominated in foreign currencies, balances in ruble accounts abroad and ruble-denominated debts to non-residents are also required to be reported. Data should be provided on a consolidated basis.
To assess the regulatory impact, the Bank of Russia also published a draft instruction regulating the composition, format and frequency of reporting by exporters. Tightening monitoring will allow larger businesses to more precisely control foreign exchange flows, according to the regulator.
Finance Minister Anton Siluanov in early December appreciated Timing of the return to compulsory sales of foreign exchange earnings in Russia.
Putin before Established Some exporters sell their revenues in foreign currency.