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Russian President Vladimir Putin attending the final stage of the 3rd International Olympiad on Financial Security on October 4, 2023.
Russian President Vladimir Putin attending the final stage of the 3rd International Olympiad on Financial Security on October 4, 2023.

MIKHAIL METZEL/POOL/AFP via Getty Images

  • The Kremlin is imposing new de facto capital controls to help lift the ruble, the Financial Times reported.
  • Western firms exiting Russia must sell assets in rubles or else face delays and perhaps losses to transfer dollars or euros abroad. 
  • On Friday, the Bank of Russia lifted interest rates to 15%, but the ruble has resumed its slide.

Russia is imposing new de facto capital controls, representing another attempt to help lift its sagging ruble, the Financial Times reported.

Tags
Markets, mi-exclusive, Kremlin, capital-controls, Ruble, Currency, Sanctions, ukraine-war, Dollars, De-Dollarization, Euro, exodus, interest-rates, economy
Source
Russia adds fresh capital controls to prop up ruble, but Kremlin is 'applying a…