A bill to ban all currency operations was introduced to the State Duma


A member of the State Duma Ivan Sukharev from the political party LDPR proposed to ban Russians from any currency operations in the country, says “Izvestia“. According to the MP, it will help to strengthen the ruble.

Sukharev has prepared a bill according to which all currency transactions, cash or cashless, should be prohibited for residents on the territory of Russia. In the opinion of the MP, no one should pay in foreign currency, or receive and pay loans, or store it in bank accounts. Sale and purchase of foreign currency will also be banned.

As a support of his proposal Sukharev referred to “many countries in Asia and Africa”, allegedly introduced such restrictions at different times.

In addition, as noted by the MP, the most popular currencies in Russia are dollar and euro – money of the countries that introduced sanctions against Russia. Thus, the ban on the circulation of currency might be another anti-sanction measure, along with the food embargo.

Starting from today the Central Bank tightened rules of currency exchange for Russian citizens: now, apart from the passport data, with the exchange of more than 15,000 rubles (approx. $210 – RRT), the bank will be required to take the citizen’s VAT number, their phone, e-mail, and other information, that will be taken using a special form.

According to experts, these measures will significantly slow down exchange operations. Analysts suggest that in this way the Central Bank is trying to discourage citizens from saving money in foreign currency because the ruble is rapidly becoming cheaper.

Source: MK