“Friendly” Currencies Are Becoming a New Reality for Investors

“Friendly” Currencies Are Becoming a New Reality for Investors “Since the 90s, various gurus have taught the Russian business world and population to distribute assets between the three main currencies – rubles, dollars and euros. Sometimes there was interest in more exotic world reserve currencies – for example, the British pound or the Swiss franc. The military conflict with Ukraine – the sharpest confrontation between Russia and the West since…

Oil, Sanctions, Rubles … What’s Next?

Oil, Sanctions, Rubles … What’s Next? The idea of imposing an embargo on Russian oil and limiting the price ceiling for it has not yet been reflected in market prices, but it will definitely manifest itself in the next couple of months, says Alexander Potavin, an analyst at Finam, one of Russia’s largest investment groups.   On September 6, the European Union approved…

The Financial Market in the Conditions of Restrictions: From adaptation to a new strategy

The Financial Market in the Conditions of Restrictions: From adaptation to a new strategy   Ekaterina Zemskaya, Advisor on legal issues to the Director of the NGO “Forum Analytical Center,” analyzes the report of the Bank of Russia on the tasks currently facing the financial market of the country.     In August, the Bank of Russia published a report for public discussion:…

Strict Currency Control: Reasons and results

Strict Currency Control: Reasons and results Strict currency control was not imposed in Russia by chance. The reason for it was the unprecedented sanctions imposed by the West immediately after the beginning of the special military operation in Ukraine. As a result Moscow was forced to take a range of measures limiting currency operations in the country. What will this lead to? Will Russia prohibit the circulation…

Currency Controls in Russia: A history of the issue

Currency Controls in Russia: A history of the issue   Currency regulation has existed in Russia since the 15th century. Since that time it has fluctuated: from liberal approaches, to a total ban on operations with foreign currency. After the revolution in 1917, the government instituted a state monopoly on foreign currency operations. Article 88 of the Criminal Code of the RSFSR, specifying criminal penalties for illegal foreign…

Moscow supports entrepreneurs and exporters

Moscow supports entrepreneurs and exporters The Moscow government has introduced a number of measures to support the economy, address the negative implications after the introduction of restrictions, preservation of jobs, and the creation of an environment for import substitution.   The Mayor Sergey Sobianin has decided to create a commission aimed at boosting the steady…