Exporters get right to receive export revenue on foreign accounts before repatriating it to Russia

MOSCOW. June 7 (Interfax) -Russian exporters now have the right to receive forex revenue on foreign accounts, however they are still required to repatriate it afterwards.

The Finance Ministry said a sub-commission of the government's commission for monitoring foreign investment and operating under the ministry's auspices had decided to allow exporters to credit foreign currency received from nonresidents under foreign trade agreements to their accounts abroad from June 6.

"This is possible, in compliance with the terms for the subsequent repatriation of funds to the Russian Federation and the subsequent sale of export receipts in the amount determined by Russian presidential decree," it said.