The newspaper “Vedomosti” reported that the Russian authorities are considering imposing a cap on the purchase of foreign currency in the domestic market for transactions to purchase assets of foreign companies withdrawing from Russia.
The director of the Fiscal Policy Department at the Russian Ministry of Finance, Ivan Chipskov, said that the new mechanism provides for setting a monthly limit that is not restricted to a specific amount.
“In general, within the framework of the responsible committee approach, we always take into account the market conditions in the foreign exchange market when making decisions about transactions, including transactions with shares,” the official added.
An expert on the stock market, Valery Emelyanov, believes that the requirements of the Russian regulator (the Central Bank of Russia) for such transactions are logical. He pointed to the need to introduce certain rules in the market in order to exclude the possibility of “behind the scenes deals” and opaque decisions.
This article was originally published by RT.