Russia could cut state spending for FX interventions, says finance minister

(Corrects to say sturdy rouble makes exports much less aggressive, removes reference to imports)

MOSCOW – Russia may reduce some state spending to channel funds for international forex interventions, Finance Minister Anton Siluanov stated on Wednesday, as Moscow appears to be like for tactics to maintain a lid on the rouble’s strengthening, which is making exports much less aggressive.

With Russia on the lookout for methods to melt the blow of unprecedented Western sanctions on its monetary sector, Siluanov stated his ministry would additionally recommend permitting export-focused corporations to obtain proceeds from non-residents in money.

(This story corrects to say sturdy rouble makes exports much less aggressive, removes reference to imports)