© Portal. Russia approves a list of 31 countries that can participate in its foreign exchange market
Moscow, September 21 (.). – Russia has approved a list of 31 countries, including Brazil, Cuba and Venezuela, whose banks and brokers can participate in its foreign exchange market, the Russian government reported today.
The regulation, signed by Prime Minister Mijaíl Mishustin, also states that banks and agents from approved countries can participate in the financial derivatives market.
The list includes, among others, seven countries of the former Soviet Union – Azerbaijan, Armenia, Belarus, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan – as well as the four states that, together with Russia, form the BRICS group: Brazil, India, China and South Africa.
The government regulation also covers countries such as Serbia, Turkey, Iran, Qatar, Pakistan, the United Arab Emirates, Morocco and Malaysia.
According to the executive branch, this decision is part of the framework of new rules adopted last July, aimed at increasing the efficiency of the mechanism of “direct conversion of the national currencies of friendly and neutral countries and the formation of direct quotations of the ruble” to satisfy the demand for Payments in local currency.