Russia Extends Mandatory FX Sales Through April 2025

Russia has extended mandatory FX sales for major exporters by one year, a decision the government said will help to maintain a stable ruble.

The Russian government has kept the main parameters broadly unchanged: requirements still apply to 43 groups of exporter companies, which are obliged to credit at least 80% of FX proceeds to the accounts at Russian banks within 120 days of receiving the funds.