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Capital flow restrictions to be lifted on reciprocal basis only — Central Bank of Russia

The Bank of Russia considers currency restrictions to be commensurate to the current situation surrounding sanctions

MOSCOW, August 11. /TASS/. Capital flow restrictions now in effect are bilateral by nature and can only be lifted on a reciprocal basis, the Bank of Russia said.

"Remaining constraints are predominantly non-economic and bilateral by nature. They compensate for the effects of external sanctions imposed [on Russia] and are aimed at stimulating withdrawals of capital from Russia by foreign investors and potential future bans on capital inflows. Therefore, any further softening of capital flow restrictions is possible on a reciprocal basis only," the banking regulator said.

The Bank of Russia considers currency restrictions currently in effect to be commensurate to the current situation surrounding sanctions and does not expect any significant changes, Deputy Governor Alexey Zabotkin said earlier.

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Central Bank of Russia

Anti-Russian sanctions

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