MOSCOW, September 15 Long-term administrative currency restrictions lead to the creation of ways to circumvent them, this threatens a “snowball” in this area, said the head of the Bank of Russia Elvira Nabiullina during a press conference.
«Administrative restrictions, if they are effective, they are usually effective only for a limited time. The longer they are in effect, the less effective they are. We live in a situation where companies are forced to build complex chains of foreign economic activity and payments «, — she said.
«These chains allow you to bypass restrictions, but at the same time these restrictions can create difficulties and obstacles for foreign economic activity, for the purchase of goods, services, components. We see this trend,» added the head of the regulator.
«If we try to close these loopholes every time, then these ineffective restrictions will grow like a snowball. We will close something, business will find a new gap — and so on ad infinitum,» — Nabiullina concluded.