Russian capital controls

Further capital controls have now been introduced in Russia. Basically, Western businesses selling assets in Russia must take roubles or jump through hoops to take a smaller amount of Western currency:

Russia has reportedly imposed additional currency controls in an attempt to prop up the falling rouble, restricting western companies that sell their Russian assets from taking the proceeds in dollars and euros.

Russian exporters must exchange 75% - 80% of their income into roubles, so few business bother to export anything!

In 2008 one US dollar would buy 25 Rubles, it will now buy about 100 Rubles.

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