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Sanctions Context

The Russian Export Center ready to test transactions in cryptocurrency

The Russian Export Center, which fell under sanctions, is considering the possibility of making payments in cryptocurrencies. This was announced at SPIEF by its...

Hoff to consider buying or leasing IKEA’s production and retail spaces in Russia

The Hoff furniture chain is ready to consider the possibility of buying and leasing production and retail space from IKEA, which is reducing its...

IKEA to sell all four of its factories in Russia

The company has already begun searching for new owners for enterprises in the Leningrad, Kirov and Novgorod regions. The IKEA press service also reports...

Requirement to sell exports’ earnings in foreign exchange cancelled as confirmed by the government

The subcommittee of the government commission for the control of foreign investment in Russia decided to cancel the requirement for exporters to sell 50%...

Key rate cut back to the pre-sanction level

The Bank of Russia held a meeting of the Board of Directors today and decided to reduce the key rate again, from 11% to...

Mandatory sale requirement for half of export earnings now abolished

A decree lifting the requirement for exporters to sell 50% of foreign exchange earnings was signed today. The document says that from now on,...

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