The authorities should allow Ukrainian businesses, which before the war had trade relations with the aggressor country, to get rid of Russian rubles, which are now frozen in their accounts, because this money does not benefit the Ukrainian economy. This was stated by economist Boris Kushniruk, commenting on the NBU resolution prohibiting any foreign exchange transactions using Russian and Belarusian rubles.
“If the state has already taken such a step (prohibition of operations – ed.), then it would be logical if the state simply bought rubles at some rate from these companies. They would be happy to sell them! And the state would simply leave these currencies with itself on the balance sheet – meaning that it could subsequently sell them. For example, even to third countries,” Kushniruk believes.
According to him, the decision to ban foreign exchange transactions was necessary, but did not take into account the state of the economy. That is why a situation arose in which millions of dollars were frozen in the accounts of enterprises.
“Our officials very often make decisions that hit not only Russia, but also Ukrainian business. And without answering what you are going to do. The EU takes a very long time to agree on the sanctions policy, because it is trying to figure out if it will hit its own business , and how to reduce the negative. We make a decision without an answer: what’s next? Of course, I’m not in favor of us resuming ruble trading. it reflected the reality so that it would not be a de facto confiscation measure. And then this currency, to agree with third countries who would buy it from us centrally,” summed up Kushniruk.
As you know, on February 24 last year, the NBU decree No. 18 was issued, which prohibits any foreign exchange transactions using Russian and Belarusian rubles. Because of this, more than $50 million were blocked on the accounts of more than 200 Ukrainian enterprises. Therefore, business is asking the NBU to allow unilateral and one-time conversion of Russian / Bel. rubles into hryvnia in order to launch funds into the Ukrainian economy.
Earlier, the president of the Ukrainian Union of Industrialists and Entrepreneurs, Anatoly Kinakh, also called on the NBU to allow companies to conduct a one-time ruble exchange operation, since money should not be frozen in accounts, but should work for the benefit of the Ukrainian economy.
Source: Obozrevatel
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