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Muscovite sues Central Bank for rouble fall

June 30, 2015, 15:18 UTC+3 MOSCOW
The Central Bank of Russia in November 2014 cancelled its systematic foreign exchange interventions and the dual currency basket corridor. The bank’s new policy caused the rouble fall
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© TASS/Sergei Konkov

MOSCOW, June 30. /TASS/. A Muscovite has filed a lawsuit with a Moscow district court requesting to declare illegal the Russian Central Bank’s inaction in the period of the dramatic rouble fall in late 2014, the court said on Tuesday.

"The court has received a statement of claim from Mr. V. Simonov against the Russian Central Bank and the Russian government for declaring illegal their inactivity during the rouble fall and their monetary policy, which subsequently caused a crisis in the country," press service of the Solntsevo district court in the southwest of Moscow told TASS.

According to a court representative, the claim has been accepted by the judge, but left without action until August 8, when the plaintiff should submit copies of the claim for the defendants.

In February this year, Moscow’s Meshchansky Court dismissed a complaint against the introduction of a floating exchange rate by the Central Bank filed by former head of the bank’s foreign operations department Andrei Cherepanov. He simultaneously lodged two complaints against the Central Bank and the State Duma lower house of parliament for their introduction of the floating exchange rate. The Tverskoi district court of Moscow refused to consider the complaint against the State Duma, and then the Supreme Court also rejected the motion.

The Central Bank of Russia in November 2014 cancelled its systematic foreign exchange interventions and the dual currency basket corridor. The bank’s new policy caused the rouble fall.

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