INSUBCONTINENT EXCLUSIVE:
Russia will not tighten capital controls in response to a weakening ruble, the Vedomosti business dailyreported Thursday, citing two
anonymous sources close to the Russian government.President Vladimir Putinmet with cabinet members and Central Bank governor Elvira
Nabiullina on Wednesday to hear proposals on converting foreign currency earnings held by exporters into rubles.The exporters had
according to Vedomosti.The reported agreement comes after the ruble slid past 100 against the U.S
limited effect, forcing the Kremlin to consider bringing back the compulsory sale of foreign currency revenues by exporters.Days after
Moscow's February 2022 invasion of Ukraine, Putinordered exporters to hold at least 80% of their revenue in rubles as part of some of
He lifted the requirements in June 2022.Those capital controls were seen as a rollback of years of economic liberalization that Putin
