Finance
Russia could cut state spending for FX interventions, says finance minister
Russian Finance Minister Anton Siluanov attends a session of the St. Petersburg Worldwide Financial Discussion board (SPIEF) in Saint Petersburg, Russia June 16, 2022. REUTERS/Anton Vaganov
MOSCOW, June 29 (Reuters) – Russia may reduce some state spending to channel funds for international forex interventions, Finance Minister Anton Siluanov stated on Wednesday, as Moscow seems for tactics to maintain a lid on the rouble’s strengthening, which is making imports dearer.
With Russia on the lookout for methods to melt the blow of unprecedented Western sanctions on its monetary sector, Siluanov stated his ministry would additionally recommend permitting export-focused firms to obtain proceeds from non-residents in money.
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