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Russian minister says restricting capital flow impossible

October 02, 2014, 11:03 UTC+3 MOSCOW
The Bloomberg news agency reported earlier this week that Russia’s Central Bank is considering plans to introduce “temporary capital controls if the flow of money out of the country intensifies”
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Russian Economic Development Minister Alexey Ulyukayev

Russian Economic Development Minister Alexey Ulyukayev

© ITAR-TASS/Alexey Nikolsky

MOSCOW, October 2. /TASS/. Russian Economic Development Minister Alexey Ulyukayev has rejected the possibility of introducing restrictions on the capital flow in Russia.

The Bloomberg news agency reported earlier this week, citing officials with direct knowledge of the discussions, that Russia’s Central Bank (CBR) is considering plans to introduce “temporary capital controls if the flow of money out of the country intensifies.”

CBR denied the reports. The regulator said that it is planning to carry out an investigation into attempts to manipulate the market over the reports on capital controls.

“We inform that the Bank of Russia, in an effort to ensure fair price assessment of financial tools, is set to carry out an analysis of the situation to find signs of the market manipulation,” the press service said in a statement.

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