The Finance Ministry has compared the cost of doing business with settlements in national currencies and dollars

© RIA Novosti / Natalia to Seliverstova in photobacteria of the Ministry of Finance of the Russian Federation on Ilyinka street in Moscow. Archival photoThe Finance Ministry has compared the cost of doing business with settlements in national currencies and dollars© RIA Novosti / Natalia to Seliverstova the image Bank

Level of monetary and administrative control for business with payments made in dollars will be higher than the calculations in rubles or other currencies, told reporters Deputy Finance Minister of Russia Vladimir Kolychev.

The Ministry of Finance, Ministry of economic development of the Russian Federation and the Central Bank has prepared measures to de-dollarization of the Russian economy, they are stimulating in nature, said last week the head of the Ministry Maxim Oreshkin.

«It creates such a system in which the calculations in dollars, currency control and administrative costs associated with it, will be higher than according to the calculations in rubles or other currencies», — said Kolychev.

Last week the Finance Ministry published a bill that softens rules of currency control for residents of the Russian Federation, targeted by the sanctions. It gives the possibility of sanctioned Russian companies to make payments to non-residents under foreign trade contracts, bypassing accounts in authorised Russian banks. Under the bill, they will be able to transfer funds into their foreign Bank accounts directly.

«We see now that the sanctions of the companies have difficulties in settlements under foreign trade contracts, and these difficulties including those associated with the peculiarities of currency control», — said Kolychev. He said that as the implementation of the norms of this law may be changed.

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