The Ministry of Finance softened the requirement for exporters to sell foreign exchange earnings. Now they are required to sell 50% revenue instead of 80%

The Ministry of Finance said that against the background of stabilizing the ruble exchange rate and achieving a sufficient level of currency liquidity, the government commission decided to reduce the requirement for the mandatory sale of foreign exchange earnings of exporters. Now they are required to sell 50% of the currency instead of 80%.

On May 23, the ruble strengthened to maximum values ​​in almost seven years. The euro on Mosbirzh fell to 59 rubles for the first time since June 2015. And the dollar rate was 57.50 rubles.

On February 28, four days after the start of the Russian invasion, the Government of the Russian Federation ordered exporters to sell 80% of the revenue under foreign trade agreements within three business days due to sanctions against the Central Bank of the Russian Federation. In April, the Bank of Russia softened currency control for Russian exporters of the non-resource non-energy sector. The term of the obligatory sale of foreign currency for them was increased from 3 to 60 business days.

Last week, the head of the Ministry of Finance Anton Siluanov reported that reduced standards for the sale of foreign exchange earnings are established for individual exporters, but did not specify which companies and standards are in question.