Russia Against Currency Restrictions in Belarus

07.04.2011 09:24
Архив Редакция

Russia is concerned about the foreign exchange restrictions, imposed by the Belarusian authorities, which significantly complicates the work of importers in the country, since they can not buy the currency on the interbank market. The Russian side intends to discuss this issue  at the meeting of the Customs Union Commission, to be held in Moscow on April 7.

«The Russian side intends to discuss the priority of access to the interbank market, as well as a number of related issues that have led to the creation of additional barriers to trade within the Customs Union,» said a source in the Russian government circles, PRIME-TASS.

The source says that the Russian side considers measures, taken by the National Bank of Belarus to improve the situation, as inadequate. Thus, permission for the free payments in tenge, Belarusian and Russian rubles with counterparts from Kazakhstan and Russia for imported equipment, introduced by the National Bank for Belarusian importers on March 30, has not solved the main question — buying the currency.

As Telegraf previously reported, up to March 1, 2012 purchase of foreign currencies by economic entities-residents of Belarus to pay non-residents for imports of equipment is allowed only under foreign trade agreements, which sum does not exceed €50 thousand in the equivalent. Tightening procedures of buying foreign currency is provided by the Council of Ministers and National Bank’s Decree № 240 / 5, signed on February 25, 2011. This restriction does not apply to transactions between enterprises of the Customs Union in local currencies.

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