5 Sep 2013 13:39

Russian Treasury not technically ready to buy forex for Reserve Fund on market - Storchak

MOSCOW. Sept 5 (Interfax) - The Russian Federal Treasury is not yet technically ready to carry out foreign currency purchases for the Reserve Fund on the market, Deputy Finance Minister Sergei Storchak told reporters.

"They're technically not ready. In connection with the fact that this work involves work with electronic money, it requires certain preparations. It seems to me they're not ready," he said.

Under such a scheme for forex purchases, "this authority [the treasury] becomes a subject of the financial market; it's not all that simple," Storchak said.