Putin orders to approve $1 bln limit for currency purchases by June 1

Business & Economy May 22, 2023, 20:21

This refers to settlements in transactions made on the basis of authorizations of the government commission on control over foreign investments in Russia, the Central Bank or the Russian Finance Ministry

MOSCOW, May 22. /TASS/. Russian President Vladimir Putin ordered to set the $1 bln limit by June 1 of this year for foreign currency purchases by residents inside the country for crediting at accounts abroad and performing authorized transactions, according to the list of assignments posted on the Kremlin’s website on Monday.

"The Russian Government in cooperation with the Bank of Russia to ensure setting a monthly limit not above $1 bln for foreign exchange purchases by residents on the Russian domestic currency market for purposes of further crediting of foreign currency to accounts opened with banks located outside the Russian territory," the document reads.

This refers to settlements in transactions made on the basis of authorizations of the government commission on control over foreign investments in Russia, the Central Bank or the Russian Finance Ministry. The deadline for the assignment is set by June 1 of this year.

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