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Currency control can be liberalized if sanctions are softened — Bank of Russia

The regulator wants also to increase awareness of citizens about opportunities for their participation in development of the Russian economy through investments in stocks and bonds

MOSCOW, November 29. /TASS/. The Bank of Russia can consider liberalization of currency control in respect of unfriendly states in response to sanctions’ softening, the regulator said in its financial market developed guidelines.

"Establishment of currency prohibitions and restrictions should proceed from the reciprocity principle, that is, bans and restrictions to be introduced only in respect of residents of the countries that introduce such measures against the Russian Federation. Any liberalization should be in respect of unfriendly states. At the same time, the Bank of Russia can consider an option of liberalization in respect of unfriendly states as a tit-for-tat measure for softening of sanction restrictions (for example, unblocking of assets," the Central Bank said.

The regulator wants also to increase awareness of citizens about opportunities for their participation in development of the Russian economy through investments in stocks and bonds.

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