MOSCOW, June 24The easing of requirements for the sale of foreign currency earnings by exporters to the Russian Federation means that companies will be able to act abroad more flexibly, while the actual volume of sales due to market factors will still remain high, over 80% of the total volume of foreign currency received under foreign trade contracts with a new threshold of 60 %, said the experts interviewed.
On Friday, the Russian government, taking into account the stabilization of the ruble exchange rate and the achievement of a sufficient level of foreign exchange liquidity, softened the requirement for the mandatory sale of foreign currency earnings by exporters, lowering the threshold for its repatriation from 80% to 60%. 
“In essence, news about the easing of requirements for the sale of foreign currency proceeds means that exporters will have more freedom in using the proceeds received, and combined with the potential negative impact of the relaxations on the ruble, this could lead to an increase in issuers’ income,” answered the Veles analyst capital» Elena Kozhukhova to the question of how easing requirements for the sale of foreign currency earnings will affect exporters and their securities on the Moscow Exchange.
She also added that the key benchmark in this regard will be the ruble exchange rate rather than the fact of a lower threshold for the mandatory sale of proceeds, noting that the key exporters to the Russian Federation are oil and gas producers , metals, chemicals, forestry and agricultural products.
Evgeniy Mironyuk from BCS World of Investments, in turn, said that the Cabinet’s decision to ease the requirements will not significantly affect the actual volume of sales of foreign currency earnings in the domestic market and also on the activities of exporters. He notes that the figure varies significantly from month to month, but net sales, for example, in March, accounted for 97% of foreign currency export earnings.
“One-time and permanent factors force exporting companies to maintain foreign currency sales at a high level. In a situation where about half of all foreign trade payments are made in Russian rubles and this figure is growing, the average monthly net sales of foreign currency to foreign currency export earnings will remain above 80%” , says the expert.
«But easing the standard will help companies be more flexible in the development of foreign activities, with international payments, and will reduce transaction costs. In the long term, this will improve the prospects for expanding the companies' business and will increase the valuation of shares by investors,» the analyst adds. Speaking about the ruble, he notes that the stability of its exchange rate is a higher priority issue. The expert does not exclude a situation in which the government will again have to tighten the requirements for the mandatory repatriation of foreign currency earnings.