The Bank of Russia does not yet know anything about the extension of the decree on the compulsory sale of foreign currency earnings until the end of 2024. This was stated by Elvira Nabiullina, Governor of the Central Bank of the Russian Federation, quoted by the correspondent of socialbites.ca.
“No, I don’t know about that,” the head of financial regulation said at a news conference.
He reminded that the Central Bank’s stance on this issue had been announced before.
The obligation for exporters to sell some of their foreign exchange earnings began to be implemented as of October 16, 2023. The deadline for application is April 30. It is proposed to extend the operation of the mechanism until the end of 2024. According to Belousov, a suitable proposal is currently being prepared.
Russian government in January supported Expansion of measures on compulsory sales of foreign exchange earnings by the largest Russian exporters. Also the Central Bank of Russia Not found Reasons to support extension.
Belousov before appreciated effectiveness of selling foreign exchange earnings.