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Russian central bank not co control cross border capital movement

September 30, 2014, 20:31 UTC+3 MOSCOW

Russia’s net capital outflow is expected to reach $90 billion in 2014

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Russian Central Bank headquarters in Moscow

Russian Central Bank headquarters in Moscow

© TAR-TASS/Sergei Bobylev

MOSCOW, September 30. /ITAR-TASS/. Russia’s central bank does not plan to control cross border capital movement, the regulator said in a statement Tuesday.

“Due to some media reports, which have appeared lately, the central bank is informing that it is not considering the introduction of any kind of restrictions on cross border capital movement,” the bank said.

Earlier on Monday, Central Bank Deputy Chairman Sergei Shvetsov told Bloomberg the bank does not want to control capital.

In January-June, Russia’s net capital outflow amounted to US $74.6 billion, while the central bank forecasts the outflow to reach $90 billion in 2014.

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