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CBR Says Abolition of Repatriation Requirements Lower Visibility in Export Markets

RUSSIA
  • Gradual abolition of the requirements for mandatory repatriation of export proceeds may deprive the CBR of information to monitor the foreign exchange market.
  • To avoid this, the regulator is preparing amendments to the legislation due to be enforced at the end of April.
  • From 2020, exporters working with non-commodity goods may not return ruble-denominated earnings; for commodities, mandatory repatriation will be cancelled in stages in 2020-2024.
  • CBR's Yudaeva "We are a little worried that our information basis for observations will decrease" – IFX
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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