Putin gives cenbank rights to determine size of FX operations with non-residents

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FILE PHOTO: A Russian state flag flies over the Central Bank headquarters in Moscow

– President Vladimir Putin gave the central bank rights to determine size of foreign currency operations with non-residents, including limiting FX purchases by foreigners on the Russian domestic market, a presidential decree showed on Friday.

Russian residents are not allowed to buy stakes in companies that are not Russian residents without the central bank’s permission until the end of this year, the decree said.

The decree also said that Russian banks that were hit by Western sanctions can pay out FX deposits to companies in roubles using the actual rouble exchange rate until Sept. 1.

(Reporting by Reuters; Editing by Alex Richardson)

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