Mandatory sale of 80 percent of foreign exchange earnings for all Russian exporters

As from today, the Russian Ministry of Finance obliges all exporters to sell 80% of their foreign exchange earnings under any foreign trade agreements, within 3 working days from the moment funds are credited to a foreign currency account. Also, 80% of the amount of export earnings received from January 1, 2022 must be sold. The measure was taken urgently in order to reduce the volatility of the national currency.