The Russian government has expanded the list of countries whose banks will be able to participate in currency trading in Russia, the Cabinet website reported on February 2. The list has grown to 40 countries. The corresponding order was signed by Russian Prime Minister Mikhail Mishustin.
“The number of friendly and neutral countries whose credit institutions and brokers will be allowed to trade on the Russian currency market, as well as on the derivatives market, has increased to 40,” the statement said .
Thus, now representatives from Argentina, Cambodia, Laos, Mexico, Nigeria, Tunisia and Ethiopia will be able to participate in currency trading.
The initial list of friendly and neutral states admitted to the auction was approved by the government in September 2023. It included more than 30 countries. These included Azerbaijan, Armenia, Belarus, Kyrgyzstan, Kazakhstan, Tajikistan, Turkmenistan, Uzbekistan, Algeria, Bangladesh, Bahrain, Brazil, Venezuela, Vietnam, Egypt, India, Indonesia, Iran, Qatar, China, UAE, Oman, Pakistan, Saudi Arabia.
As Alexander Potavin, an analyst at FG Finam, explained to Izvestia at the time, the legislation allows foreign companies to trade on the Russian currency market , but provides for the possibility of introducing a number of restrictions for such participants. For example, the Central Bank of the Russian Federation can set additional requirements for them, as well as limit the volume of transactions that foreign participants can make.