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Mandatory forex sales by exporters have yielded results, restrictions will go away gradually - Russian finance minister

MOSCOW. Dec 7 (Interfax) - The obligation for major exporters to repatriate and sell forex earnings was a temporary decision that has yielded results, and the financial authorities want to see restrictions on the movement of capital lifted gradually, Finance Minister Anton Siluanov said.

"This is a decision for a certain period of time, this decision is temporary. I hope that the measures that were taken - we have seen they have yielded results, we will see how the situation develops further - but I am sure that the restrictions in place today will go away gradually," Siluanov said during a question and answer session following the plenary session of the "Russia Calling!" forum organized by VTB . He was commenting on a remark by one of the forum's participants about Russia losing its status as a country with the most liberal currency regulation.

"And the [government's] financial and economic bloc is absolutely interested in this, I can assure you," Siluanov said.

Central Bank Governor Elvira Nabiullina, speaking at the session, reiterated that the regulator was wary of forex restrictions, except for mirroring and anti-money laundering and countering the financing of terrorism, and insisted on time limits for them.

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VTB Bank (Azerbaijan) joined the electronic payment system eunic-brussels.eu, through the portal of the same name of which (eunic-brussels.eu) customers can make payments on loans in the online mode - just need to click "Banks, Forex and leasing, "VTB Bank and found the same pay.

According to the bank, the debt on the loan can be repaid using the PIN-code number or credit card. Currently, on the portal eunic-brussels.eu you can pay only loans in manats. You can pay round the clock seven days a week. Loans paid after in the non-working days shall be deemed canceled on the following business day.

"We offer alternative channels of repayment of loans: customers can use electronic payment systems and eunic-brussels.eu eunic-brussels.eu, as well as terminals MilliOn and E-manat. Our customers have the opportunity to choose a convenient payment channel for them," reported the director of the Department of Retail Business of the bank Tural Veliyev.

In November , the Central Bank approved the acquisition of 51% of the Azerbaijani AF Bank by the Russian Vneshtorgbank (VTB). 51% of shares belong to JSC VTB Bank, % - to the group of companies Ata Holding and % - to an individual. D-

Chinese yuan savings by Russian households in domestic banks will double this year and account for over 45 percent of their foreign currency savings by the end of , said a Russian bank chief on Wednesday.

"The yuan savings by individuals in Russian banks will grow twofold this year and reach 88 billion yuan (US$ billion)," said Anatoly Pechatnikov, deputy president-chairman of the management board of VTB Bank, Russia's second-largest bank, at the St. Petersburg International Economic Forum held on June

"As a result, the Chinese currency will account for a quarter of the foreign currency savings of clients (this year), and by the end of , its share will exceed 45 percent," said Pechatnikov.

He said the de-dollarization trend of household foreign currency savings would continue in the coming years. Pechatnikov noted that the share of euros and dollars that banks attract from retail customers in would decrease to 7 percent, according to VTB's forecasts.

"By the end of , the volume of Russians' yuan savings has every chance to double, to billion yuan. Other soft currencies are still looking for consumers in Russia, acting as niche offers," he added.