Russian authorities may extend the obligation to sell foreign exchange earnings indefinitely. The agency reports this based on its sources. Bloomberg.
According to the agency, despite the lack of support from the country’s Central Bank, the Russian government is considering the possibility of indefinitely extending the requirement for the mandatory sale of exporters’ foreign currency earnings.
Sources told Bloomberg that the government believes the measure to extend the sale of foreign currency proceeds is necessary to stop inflation and strengthen the Russian ruble.
Formerly Vice President of the Russian Federation Maxim Oreshkin statedThe measure implemented by the country’s government regarding the compulsory sale of foreign exchange earnings was shown to be effective.
Before that the Russian government appreciated It was proposed to make the sale of exporters’ foreign exchange earnings mandatory and to extend this obligation until the end of 2024. The Russian Ministry of Finance also supported the continuation of the measure.
Previously Mishustin in the name Avoid excessive optimism.