Russia Considers Easing Capital Controls

Russian authorities are considering easing the restrictions imposed on the capital movement after the Invasion to maintain market stability.

According to the “Bloomberg” news agency, Moscow focuses on options that include extending the deadline for exporters to convert their foreign revenues into rubles.

They also include reducing the percentage that companies must sell in the local exchange market to less than 80% of their foreign earnings in foreign currencies.

At the same time, Media reports that the Russian Central Bank is considering extending the deadline for exporters to transfer the proceeds of their exports from foreign currencies within 3 working days.

Contributed by Israa Farhan