- BIST10011,722-2.89%
- USD49.42+0.06%
- EUR55.41+0.20%
- GOLD4,182.10+0.29%
- INTEREST37.00%-1.00
- BITCOIN81,408-0.88%
- October 16, 202612°
- BIST10011,722-2.89%
- USD49.42+0.06%
- EUR55.41+0.20%
- GOLD4,182.10+0.29%
- INTEREST37.00%-1.00
- BITCOIN81,408-0.88%
- October 16, 202612°
Russia tightens cash controls as construction bankruptcies jump 41%
Russia’s central bank will urge banks to genuinely check where clients’ cash comes from and plans tighter rules on taking cash and gold to Eurasian Economic Union countries, while bankruptcy cases against construction firms rose 41% in a year.
Bogdan Shablya, head of the central bank’s financial monitoring service, said the recommendation will cover both individuals and companies. Cash in circulation has grown by 2.5 trillion rubles since the start of the year.
Document checks for exporting cash and gold to Armenia, Belarus, Kazakhstan and Kyrgyzstan are set to tighten so the same papers cannot be reused for several shipments.
Bankruptcy cases against construction companies reached 1,454 by early September, driven by weaker housing demand, high interest rates and rising costs.
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