Russian authorities have stepped up measures aimed at limiting how Western firms can earn money from selling assets priced in foreign currencies. The issue was highlighted by the Financial Times, which described a shift in the regulatory landscape that now affects international transactions linked to asset disposals.
Under the new framework, transactions with foreign partners may face delays or partial blocking. A notable change is that funds may be withdrawn only through a designated type C account or converted entirely into rubles. Observers note there are effectively monthly caps on foreign exchange transfers, creating a stricter operating environment for investors with cross-border interests.
In practical terms, a deal valued at, say, $300 million could see daily transfer limits as low as $20 million, according to industry insiders. Experts characterize these steps as a tight form of currency regulation that constrains capital mobility. Dmitry Peskov, the Kremlin’s press secretary, told the Financial Times that the ruble holds absolute priority in the currency hierarchy, underscoring the government’s stance on maintaining exchange-rate stability.
Requests for comment from the Ministry of Finance regarding the new measures were not returned. The publication linked the moves to a desire to bolster the ruble’s exchange rate, a narrative echoed by bankers who argue that such policies can dampen the investment climate in Russia. The overall effect is a heightened sense of caution among foreign players contemplating asset sales or reorganizations within the country.
Earlier, Peskov had commented on shifts that emphasized volatility in the ruble, remarks that contributed to market nerves about currency risk. The Kremlin also signaled a clarified mechanism governing how foreign companies can sell assets situated in the Russian Federation, a development aimed at bringing greater state oversight to cross-border transactions.
Analysts stress that the combination of restricted transferability, mandatory ruble settlement, and the possibility of transaction delays creates a more complex backdrop for foreign capital. For multinational groups, this translates into longer settlement timelines, the need for meticulous compliance planning, and a continuous reassessment of risk in a market that remains sensitive to policy signals from Moscow. The situation continues to evolve as authorities weigh the balance between preserving monetary stability and preserving the appeal of Russia as a destination for strategic asset sales. (Financial Times)