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12 April

Russian parliament to adopt laws easing currency regulation for exporters

The Finance Ministry intends, first of all, to stimulate the conclusion of export contracts in national currencies.
 

The Russian government is expecting the Parliament to adopt laws easing currency regulation for exporters during the spring session, First Deputy Prime Minister and Finance Minister Anton Siluanov said on Wednesday.
 

He was speaking at an extended meeting on the prospects for the development of export of companies as part of the national project "International Cooperation and Export".
 

"During the spring session of the parliament we plan to introduce significant changes in currency regulation, to ease the pressure that is still there, to reduce administrative penalties for violations of currency legislation," he said.
 

"If today such fines retain 100% of the revenue, we believe that they should be reduced to the minimum values - to 3-5%," he said.
 

At the same time, the Finance Ministry intends, first of all, to stimulate the conclusion of export contracts in national currencies, he said.
 

"I would like to say at once that we will first of all stimulate the conclusion of export contracts in the national currency, in the Russian rubles. First of all, this will concern the export of non-oil-and-gas sector," Siluanov said.


Source: TASS

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