World meat industry news

The decision of the Russian Federation to reduce the mandatory threshold for the repatriation of foreign currency earnings from 60% to 40%, which has again entered into force, has become an important step in the development of the country’s foreign trade relations. This is the second easing of requirements in a short period of time, which reflects the government’s desire to maintain the stability of the national currency and ensure an adequate level of foreign exchange liquidity.

The requirement for mandatory repatriation of foreign currency earnings was initially introduced as part of a presidential decree of October 2023. In April of this year, after discussions and dialogues with stakeholders, including the Bank of Russia, the validity of the measure was extended until April 30, 2025. However, taking into account the current economic situation, the main thresholds - crediting at least 80% of revenue and selling at least 90% of this volume - remained unchanged.

These requirements apply to 43 groups of companies operating in the fuel and energy complex, ferrous and non-ferrous metallurgy, chemical and forestry industries. Easing requirements for the repatriation of foreign currency earnings will allow exporters to more flexibly manage their financial flows and investment decisions.

Experts note that this decision helps improve the business climate for exporters, stimulates foreign trade operations and contributes to the influx of foreign investment into the Russian economy. This could also have a positive impact on the competitiveness of Russian goods and services on the world market.

Thus, easing the requirements for the repatriation of foreign currency earnings is an important step in the development of Russia’s export-import operations, contributing to sustainable economic growth and improving the investment climate in the country.