6 Jun 2024 15:03

Compliance with decree to sell currency close to 100%, some exporters exceeding it - deputy finance minister

ST. PETERSBURG. June 6 (Interfax) - Russian companies are nearly 100% in compliance with the requirements of the presidential decree on the mandatory repatriation of foreign currency and the sale of forex earnings under foreign trade contracts for some of the largest exporters, and several exporters are even exceeding it, Deputy Finance Minister Alexei Moiseyev said.

"I would like in general to say that the level of compliance with the decree is high at nearly 100%, and some [companies] are even exceeding it. Therefore, I believe that the decree has been playing a very serious role in stabilizing the currency market," Moiseyev told Interfax.

The presidential decree from last October required the mandatory sale of forex earnings for six month, and the decree has since been extended until April 30, 2025.