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. Last Updated: 07/27/2016

New Currency Checks

MOSCOW -- Russia's Central Bank and State Customs Committee will create joint working groups responsible for regularly checking the hard currency supply from exports, the Central Bank said Friday.

The new government has said it wants to monitor more closely the repatriation of hard currency earnings by exporters as it seeks to tighten control on the ruble.

"The checks will essentially be aimed at verifying the repatriation of currency from natural gas, crude oil and oil products, ferrous, nonferrous and rare earth metals, timber and timber products," the bank said in a statement.