Sergei Aleksashenko: “Will the authorities agree to currency restrictions?”

“We need to clearly understand that one thing is the confiscation of the population’s foreign currency savings (which the government will never agree to), another thing is a ban on the circulation of cash currency in Russia, including the withdrawal of cash dollars from bank accounts, i.e. foreign currency deposits will be allowed, but the currency can only be used for payments abroad, and when withdrawing funds from a deposit account, dollars (euros, pounds, francs, etc.) will be converted into rubles at the market rate. Such a solution may well be implemented in practice. , but this requires a much more tense situation in the foreign exchange market than what we see today.
This could, in my understanding, happen in two or three years."