Russia will lift restrictions on capital movements into and out of the country from July 1, Finance Minister Alexei Kudrin said Friday. "On July 1, Russia will lift restrictions on imports and exports of capital that have been in place since the default of 1998," Russian news media quoted Kudrin as saying.
In August 1998, a currency crisis forced Russia to devalue the ruble and led to a default on public and private debt. On Friday, Kudrin said: "We have accumulated the necessary potential to be considered a country with a fully stable currency whose stability is guaranteed for many years ahead in any circumstances."
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