MOSCOW, Sep 1 The Ministry of Finance and the Central Bank are looking for a consensus on a currency control mechanism, Finance Minister Anton Siluanov said at the conference “10 years of the Megaregulator: yesterday, today, tomorrow”.
He noted that earlier the Bank of Russia rigidly defended the need for currency control, and the Ministry of Finance was “more liberal.” Now the ministry is advocating tougher measures to control foreign exchange flows, while the Central Bank is on the contrary.
Currency control is checking foreign exchange transactions for compliance with Russian laws.
, I'm sure we'll find joint solutions and get closer,” Siluanov said.
The head of the Central Bank, Elvira Nabiullina, in turn, said that currency restrictions should not create difficulties for economic activity. She urged to find ways to “adjust” them, taking into account the overall picture.
The Bank of Russia is in favor of maintaining, first of all, those currency control measures that are of a reciprocal nature.