Russian Central Bank offers concessions to unfriendly states

Russia offers concessions to unfriendly states for easing sanctions

Russian Central Bank offers concessions to so-called "unfriendly countries" if they agree to ease sanctions against Russia.

"Any liberalisation is to be made in relation to friendly states. At the same time, the Bank of Russia may consider the option of liberalisation in relation to unfriendly countries in response to their decision to ease sanctions,” the draft of Main Directions for the Development of the Financial Market of the Russian Federation for 2023-2025 says.

One should mitigate administrative responsibility for violating requirements of currency legislation related to the imposition of sanctions, the Central Bank also said.

Russia implemented various restrictions regarding the purchase, issuance and export of foreign currency in the spring of 2022 against the backdrop of Western sanctions in response to Moscow's decision to start the military operation in Ukraine.

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Author`s name Petr Ermilin
Editor Dmitry Sudakov