Fin min: Govt mulls no de-dollarization of individual accounts

VLADIVOSTOK/CHELYABINSK, Oct 8 (PRIME) -- The Russian government has not discussed any steps to force individuals to move to settlements in rubles, Finance Minister Anton Siluanov said in a broadcast on the Rossiya 1 television channel on October 7.

“We have no such an idea. Such plans have not been discussed by the government… We are on the contrary against any restrictions on settlements in U.S. dollar or any other currency… as we can see the risks which lie behind such limitations. As to… U.S. dollar deposits -- this is a choice of each citizen,” he said.

CEO of the country’s second largest lender VTB bank Andrei Kostin said that Russians will be able to open U.S. dollar-denominated bank accounts despite the government’s policy to pull out of trade settlements in the currency.

Earlier in October, the government said it was working on measures to reduce U.S. dollar dependence in foreign trade.

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