Russian govt suspends sale and purchase of foreign currency, gold under fiscal rule until July 1

MOSCOW. March 30 (Interfax) - Transactions for the sale and purchase of foreign currency and gold on the domestic market under fiscal rule have been suspended until July 1, 2026, according to a decree signed on March 27 by Russian Prime Minister Mikhail Mishustin.

This involves the suspension of the fourth and fifth clauses of the official regulations on payments and transfers connected to creating and using additional oil and gas revenues in the federal budget and funds in the National Wealth Fund. These clauses determine the volume of foreign currency and gold to be sold and the way in which these transactions are to be conducted.

"This decision has been made in connection with the planned changes to the baseline oil price, in order to increase the stability of the state's finances and reinforce the country's financial system," the Russian Finance Ministry said in a statement.

The ministry said that the specific details of the settlements would be defined once the transactions are relaunched, taking into account the volume of deferred forex and gold sales and purchases from March 2026 onwards.