Want to save currency: Putin urgently convened a meeting due to the fall of the ruble, - ft

According to journalists, the Kremlin is going to demand from exporters to start selling up to 80% of all foreign currency revenue within 90 days after delivery. In addition, those companies that refuse to obey want to ban government subsidies.

Also, according to the material, they consider the option of ban on dividend payments and loans abroad, as well as the abolition of import subsidies, limiting currency swaps, reducing the number of foreign currency that exporters are allowed to export from the Russian Federation.

According to journalists, during a meeting of the Government of the Russian Federation on Monday, August 14, the only one who spoke in favor of currency control was the Minister of Finance of the Russian Federation Anton Siluanov. However, all issues will be resolved only with Putin.

"This step, which will become the first case when Russia will increase currency control from the first weeks of Putin's invasion of Ukraine last year, testifies to the growing concern of the Kremlin by the impact of war on the country's economy," journalists said. It should be reminded that on August 9 it was reported that the Russian ruble got to the top three of the worst currencies among developing markets.

The head of the central bank Elvira Nabiullin has repeatedly indicated the deterioration of foreign trade conditions as the main reason for the collapse of the ruble. According to journalists, in June 2023, large Russian exporters sold 84% of their foreign exchange earnings on the market. But their income decreased to $ 6. 9 billion in July. Journalists also wrote that the fall of the Russian ruble emphasizes major problems in the economy of the Russian Federation.