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The Guardian - UK

Business

Andrew Roth

Putin to discuss capital controls to help prop up rouble, report says

Kremlin Vladimir Putin Russia

Russia’s president, Vladimir Putin — Russia’s president, Vladimir Putin. Capital controls were last introduced to protect the rouble just after the full-scale invasion of Ukraine began in February 2022. Photograph: Mikhael Klimentyev/Sputnik/Kremlin pool/EPA

Vladimir Putin is reportedly planning to hold a meeting with Russian policymakers on Wednesday in order to discuss reintroducing some capital controls to help prop up the struggling rouble.

Citing a Russian finance ministry proposal, the Financial Times said large exporters could be forced to convert up to 80% of their foreign currency into roubles in order to raise demand for the currency.

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