Putin: Government will not place FX restrictions on exporters

FXStreet (London) - In a televised media conference, Russian President Vladimir Putin has said that the government does not plan to place any FX restrictions on exporters, saying: “No orders, no restrictions are planned. We won’t do that.”

However, the Russian president said that he had spoken to some exporters regarding FX sales, but said that he was not in a position to force their hand.

On the issue of the Central Bank of Russia’s decision to step in yesterday to sell foreign currency reserves to try and halt the downward slide of the ruble, Putin said that the central bank was right to act, but that it should probably have done so earlier.