Mandatory forex sales by exporters have yielded results, restrictions will go away gradually - Russian finance minister

MOSCOW. Dec 7 (Interfax) - The obligation for major exporters to repatriate and sell forex earnings was a temporary decision that has yielded results, and the financial authorities want to see restrictions on the movement of capital lifted gradually, Finance Minister Anton Siluanov said.

"This is a decision for a certain period of time, this decision is temporary. I hope that the measures that were taken - we have seen they have yielded results, we will see how the situation develops further - but I am sure that the restrictions in place today will go away gradually," Siluanov said during a question and answer session following the plenary session of the "Russia Calling!" forum organized by VTB . He was commenting on a remark by one of the forum's participants about Russia losing its status as a country with the most liberal currency regulation.

"And the [government's] financial and economic bloc is absolutely interested in this, I can assure you," Siluanov said.

Central Bank Governor Elvira Nabiullina, speaking at the session, reiterated that the regulator was wary of forex restrictions, except for mirroring and anti-money laundering and countering the financing of terrorism, and insisted on time limits for them.