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Russia preparing for exporters to be paid in roubles - Finance Minister
May 14, 2014 / 6:34 AM / 4 years ago

Russia preparing for exporters to be paid in roubles - Finance Minister

KALININGRAD, Russia, May 14 (Reuters) - Russia is preparing a mechanism that will make it possible for the country’s exporters to be paid in roubles, Finance Minister Anton Siluanov said on Wednesday.

“Here there are certain risks, but we are preparing a mechanism, we are working on it,” Siluanov told reporters.

“Here there are certain costs for exporters and for the buyers of our export products, because they will have to buy roubles, and the rouble is now somewhat volatile, plus there is payment of commission.”

The idea of major exporters receiving payment in roubles rather than dollars has been floated in recent weeks in response to Western sanctions over the Ukraine crisis, which has led to discussions of ways to reduce Russia’s dependence on the dollar. (Reporting by Gleb Stolyarov, writing by Jason Bush, editing by Elizabeth Piper)

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