"A Complex Mechanism": an Economist on a Possible Ban on the Circulation of Currency within the Russian Federation
This is a complex mechanism. Cash goes with us .. they banned the import of cash. In order to prohibit movement in dollars and euros, you need to disconnect banks from this system - via SWIFT, close the correspondent accounts of all our banks in dollars and euros. But the currency will still be circulating in some form within the country, because all these things can be carried out through other banks, other systems,” Bogdanov noted.
He believes that there will be no problems with foreign currency in the country, since before the sanctions they were actively imported here. And to prohibit the circulation of any money in the modern world is almost impossible.
Nothing can be completely banned in this modern world. We are talking about a ban on the import of cash centrally. Earlier, the Central Bank or some other bank ordered a large batch of cash - and the batch was brought by plane. And now this cannot be done. Well, maybe a private bank will order some $ 100 million and they will bring it semi-legally ... this was all done in the Iranian situation ... But we have a large supply of cash, because before all the events they were brought here, I don’t think that we have any problems arise,” the economist concluded.
Earlier, Alexander Dzhioev, an analyst at Alfa Capital, said that the expected partial transition of gas trade to rubles contributes to the strengthening of the national currency. According to him, there will be more economic agents interested in exchange rate stability when the transition takes place.