Russia suspends foreign currency and gold transactions

According to the Russian Ministry of Finance, the purchase and sale of foreign currency and gold in Russia have been suspended until July 1, 2026.

The move follows expectations of changes to the base price of oil, aimed at increasing the stability of public finances and strengthening the country’s financial system.

Before these transactions are resumed, the agency will determine the settlement method based on the volume of deferred purchases and sales of foreign currency and gold since March.

Meanwhile, Russia’s Deputy Prime Minister Alexander Novak has instructed the Ministry of Energy to ban gasoline exports starting April 1.

It is not yet clear how long the ban will last. Currently, Russia has a gasoline embargo only on traders and oil depots that are not classified as «producers.»

The measure will affect the largest oil refineries and is designed to prevent a possible fuel shortage in the domestic market.