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Bank of Russia to minimize capital flow restrictions

The Bank of Russia earlier introduced capital flow restrictions and such measures as the ban on securities sales by foreign investors and the prohibition of withdrawal of funds from the Russian financial system by persons from countries supporting sanctions against Russia

MOSCOW, November 29. /TASS/. Capital flow restrictions create an extra burden for citizens and the business and should be minimized, the Bank of Russia said in its financial market development guidelines for 2023 and the period of 2024-2025.

"The most stringent capital flow restrictions were lifted as domestic conditions normalized; they continue to be effective in part, taking into account high risks of changes in external geopolitical factors. At the same time, it is necessary to keep in mind that capital flow restrictions on the whole create extra costs for citizens and the business and should be minimized," the Central Bank said.

The Bank of Russia earlier introduced capital flow restrictions and such measures as the ban on securities sales by foreign investors and the prohibition of withdrawal of funds from the Russian financial system by persons from countries supporting sanctions against Russia.

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