Cash Rules Could Change

By The Moscow Times

June 18, 2012

Bills regulating cash and noncash payments that were published on the Finance Ministry website could limit private cash transactions to 600,000 rubles ($20,000) beginning in 2014.

As of now, there are no restrictions for individuals, while businesses are limited to payments not exceeding 100,000 rubles, Vedomosti reported last week.

The restrictions would be a blow to the secondary housing market, where 99 percent of transactions are in cash, said Mikhail Kulikov, head of the secondary market department at Inkom-Nedvizhimost. Housing prices could rise, he warned, with the inclusion of bank charges.

(MT)

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue