Ruble Boosting Schemes Under Consideration by Putin’s Administration, Vedomosti Finds Out

The Vedomosti newspaper reported that the Russian authorities are considering introducing restrictions on the purchase of foreign currency on the domestic market for transactions to purchase assets of foreign companies leaving Russia.

Director of the Department of Fiscal Policy of the Ministry of Finance of Russia Ivan Chipskov said that the new mechanism provides for the establishment of a monthly limit, not limited to a specific amount, and these measures are designed to reduce fluctuations in the Russian currency. , which has grown recently due to the decrease in foreign exchange liquidity in the Russian market.

“In general, as part of a responsible committee approach, we always take into account market conditions in the foreign exchange market when making decisions on transactions, including transactions with shares,” the official added.

Stock market expert Valery Yemelyanov considers the requirements of the Russian regulator (the Central Bank of the Russian Federation) for such transactions to be logical. He pointed to the need to introduce certain rules on the market in order to exclude the possibility of “backroom deals” and non-transparent decisions.

Source: News

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