Ruble-dollar payments vanishing — Russian official

Business & Economy April 27, 2023, 19:30

"This is due to a number of reasons - with blocking of accounts, compliance taking weeks, reluctance to use this currency because it may not reach the beneficiary, and so on," Aleksey Moiseev said

MOSCOW, April 27. /TASS/. Cross-border money transfers of the ruble-dollar pair have essentially disappeared, Deputy Finance Minister of Russia Aleksey Moiseev said on Thursday.

"I believe it is no secret to anyone that ruble-dollar cross-border payments almost… I would say there are none. There are isolated cases from time to time. They are missing from a systemic point of view," the official said.

Payments in the ruble-euro pair still remain "but are also slowly going to zero," Moiseev noted.

"This is due to a number of reasons - with blocking of accounts, compliance taking weeks, reluctance to use this currency because it may not reach the beneficiary, and so on," he added.

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