Russia's newly announced foreign exchange deposits will carry a term of one month or longer, a senior Finance Ministry official told Reuters on Wednesday.
Earlier in the day, the Finance Ministry said that auctions for the new deposits, aimed at smoothing volatility of the ruble, will start within a month.
"We're considering a period of one month and up — it will depend on the liquidity forecast," said Maxim Oreshkin, head of the long-term strategic planning department at the Finance Ministry.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
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 every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
