Vedomosti: in Russia the requirement for the mandatory sale of foreign currency earnings will be extended
Russian authorities have decided to extend the presidential decree on the sale of foreign currency earnings by exporters until the end of 2024, reports vedomosti.ru with reference to three sources close to the government and the Russian Union of Industrialists and Entrepreneurs.
The decree stipulates that 43 groups of companies from among the largest exporters are required to credit at least 80 percent of revenue to Russian accounts then spend at least 90 percent from this amount on the Russian market.
The publication reports that the decree, if its effect is not extended, will be in force until April 30, 2024.