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    Russia Has No Plans to Limit Currency Operations Amid EU, US Sanctions

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    The Russian government and the Central Bank are not discussing a possible introduction of limiting currency transactions regardless of the continuing sanctions imposed by the United States and the European Union over the Ukrainian conflict, Russian Finance Minister Anton Siluanov said Wednesday.

    MOSCOW, May 14 (RIA Novosti) – The Russian government and the Central Bank are not discussing a possible introduction of limiting currency transactions regardless of the continuing sanctions imposed by the United States and the European Union over the Ukrainian conflict, Russian Finance Minister Anton Siluanov said Wednesday.

    “No,” Siluanov responded when asked of possible limitations on currency operations.

    The head of Russia’s central bank, Elvira Nabiullina, said earlier there were no plans to introduce limitations on currency trading in conditions of a liquidity deficit.

    The International Monetary Fund (IMF) said that capital outflows from Russia this year could reach $100 billion. Russia's government predicted capital outflows of between $70 billion and $100 billion this year.

    The United States and the European Union earlier imposed economic sanctions on a number of Russian politicians, businessmen and companies after Crimea’s reunification with Russia following a March referendum.

    The US is considering the possibility of introducing considerably more sanctions targeting the entire sectors of the Russian economy.

    Moscow has repeatedly stated that the language of sanctions is “inappropriate and counterproductive” and warned the Western partners about the “boomerang effect” that sanctions would have.

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    currency operations, sanctions, Anton Siluanov
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