The government has limited foreign companies that leave the market to withdrawing US dollars and euros from Russia, the Financial Times reports. According to the newspaper, Russian authorities insist that transactions be carried out only in rubles. Otherwise, payments may be delayed or not received in full.
The Russian government has restricted foreign companies from withdrawing US dollars and euros from the country. The measure applies to companies that have decided to sell their businesses in Russia and leave the market, the Financial Times reports.
According to the newspaper’s sources, a government commission has unofficially set limits on the withdrawal of funds in foreign currency abroad. According to one of the publication’s interlocutors, with a transaction worth $300 million, the buyer could only transfer $20 million per day to the seller.
Restrictions on currency withdrawal are one of the measures to support the exchange rate of the Russian ruble, Financial Times sources noted.
There can be no free exit from the Russian market for companies from “hostile” countries. This was stated by the presidential press secretary, Dmitry Peskov, Interfax reports. According to Peskov, the companies must leave Russia under the conditions agreed upon by the government commission.
Author:
Kirill Bilyk
Source: RB
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