Current problems of foreign exchange regulations of individuals` transactions in Russia

Authors

  • Antonina Davidovna Levashenko Russian Foreign Trade Academy
  • Sergey Germanovich Sinelnikov-Murylev Russian Foreign Trade Academy
  • Pavel Vyacheslavovich Trunin The Russian Presidential Academy of National Economy and Public Administration

Keywords:

Foreign exchange regulation, capital control, residents, non-residents, currency transactions

Abstract

Existing restrictions on individuals` foreign exchange transactions, as well as the approach to the definition of residency create unnecessary difficulties for law-abiding citizens, and violate one of the basic principles of currency regulation – an exception of unjustified government intervention
in foreign exchange operations of residents and nonresidents. The authors provide an analysis of contemporary issues of foreign exchange regulations of individuals` transactions in the Russian Federation, including in the context of international best practices, and make recommendations for improving Russian legislation in this area.

Author Biographies

Antonina Davidovna Levashenko, Russian Foreign Trade Academy

Place of work, post: Russian Foreign Trade Academy, Senior Researcher

Sergey Germanovich Sinelnikov-Murylev, Russian Foreign Trade Academy

Doctor of Economic Sciences, Professor
Place of work, post: Russian Foreign Trade Academy, Rector

Pavel Vyacheslavovich Trunin, The Russian Presidential Academy of National Economy and Public Administration

Candidate of Economic Sciences
Place of work, post: The Russian Presidential Academy of National Economy and Public Administration, Center of studying of problems of the central banks, Chief Researcher

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Published

2024-02-08

How to Cite

Levashenko, A. D., Sinelnikov-Murylev, S. G., & Trunin, P. V. (2024). Current problems of foreign exchange regulations of individuals` transactions in Russia. Russian Foreign Economic Journal, (12), 3–13. Retrieved from https://journal.vavt.ru/rfej/article/view/852

Issue

No. 12 (2015)

Section

World economy