(Finance) – The Russian Ministry of Finance has decided to allow exporters to transfer export earnings in foreign currency to foreign accounts. “Residents acquire the right to transfer foreign exchange earnings received from non-residents under foreign trade agreements (contracts) which provide for the transfer of assets to non-residents, the provision of services, the execution of works, the results intellectual activity, including exclusive rights over them, on their accounts opened in foreign banks “, reads a note from the ministry.
It is a slight relaxation of capital controls which have supported the ruble in recent months. The permit is valid from 6 June 2022.