Insiders Suggest Russia Might Reinstate Mandatory Exporter Forex Revenue Sale Regulation “Anytime”

Four informed sources have revealed that Russian authorities are in discussions regarding the revival of regulations that mandate exporters to sell forex earnings. One high-level insider mentioned that this change could be implemented “anytime.”

This measure was put in place shortly after the Russia-Ukraine conflict in February 2022.

The aforementioned high-ranking source implied that this move is imminent, despite a portion of Russia’s export earnings currently being denominated in rubles and Indian rupees.

A significant portion of trade between India and Russia is conducted in rupees, and there is ongoing exploration of mechanisms for settlement in rubles.