Thursday, November 20, 2014

Medvedev: Russia won't restrict capital flow

Russia will not impose restrictions on capital flow. On the contrary, there are plans to increase foreign currency transactions, Prime Minister Dmitry Medvedev said at a Government meeting on Thursday. “In view of the current situation in the foreign currency market, the Government, myself, my colleagues and Central Bank management have repeatedly stated that we are not going to impose any special restrictions on capital flow,” Medvedev said. He noted that today, the Government would discuss a regulation that, if approved, will increase the number of allowed foreign currency transactions. As earlier announced by President Putin, Russia has no plans to restrict capital flow as officials can control the situation with its reserves without any extra measures. Last month, the head of the Central Bank Elvira Nabiullina announced that the regulator would not restrict capital flow or private currency transactions. Medvedev also mentioned that there will no further restrictions on foreign currency sales.

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