MOSCOW, July 13 For the second time in a month, the government has relaxed the requirement for the mandatory sale of foreign currency earnings by exporters, the Cabinet of Ministers’ Telegram channel reports.
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"For the largest Russian exporters, the requirements for mandatory repatriation of foreign currency earnings have been relaxed. Previously, they were required to credit to their accounts with authorized banks at least 60 percent of foreign currency received under foreign trade contracts. Now this threshold has been reduced to 40 percent,” the publication says.
The government explained that this decision was made taking into account the stabilization of the ruble exchange rate and the achievement of a sufficient level of foreign exchange liquidity.
The previous relaxation occurred on June 21 — then the repatriation threshold was reduced from 80 to 60 percent.
The Russian President signed a decree on the mandatory sale of foreign currency earnings in October 2023. Companies were required to credit their accounts in Russian banks with at least 80 percent of the funds within 60 days of receiving them, and then sell at least 90 percent of the credited currency on the domestic market.
The authorities said the purpose of this decision was to ensure exchange rate stability and stability of the Russian financial market. It applies to exporters operating in the fuel and energy complex, ferrous and non-ferrous metallurgy, chemical and forestry industries, and grain farming. The measure will be in force until April 30, 2025. 
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