Duma and Federation Council to set up conciliatory commission on currency exports

The State Duma Budget Committee agreed with a proposal of the Federation Council to set up a conciliatory commission to settle the disagreement on amendments to the federal law "On Currency Regulations and Currency Control". These amendments provide individuals, both Russian citizens and foreigners, with the right to take up to $10,000 out of Russia without a bank certificate.

The Federation Council rejected these amendments on December 27, 2002. According to deputy head of the Budget Committee Mikhail Zadornov, the first meeting of the conciliatory commission will be held next week.