Mandatory repatriation, partial sale of foreign currency earnings in Russia to be extended, though demand for mechanism has decreased – Peskov
MOSCOW. May 5 (Interfax) – The regime of mandatory repatriation and sale of part of the foreign currency earnings by major exporters, introduced in 2023 by presidential decree, will be extended once again, Kremlin spokesperson Dmitry Peskov told Interfax.
In its latest version, the decree was valid until the end of April.
“This mechanism will be extended, although the demand for it has significantly decreased,” Peskov said.
Mandatory repatriation and sale of a portion of export earnings in foreign currency was introduced in October 2023 for six months; the decree was later extended for a year until April 30, 2025. The decree itself, as well as subsequent decrees amending it, have not been published – these documents are labeled “for official use only” due to the confidential list of exporting companies. The details of the regime established by the decree are regulated by a government resolution.
