Russia buys $100 bills in kg from Rwandan military, influx of dollars, euros into Russia continues

3 months ago
15

The Rwandan military department carried out a financial transaction, selling dollars worth more than $29 million. The buyer was Rosoboronexport, since it is the only intermediary in the Russian Federation that is allowed to trade military products. This was reported by the publication "Verstka" , citing closed statistics from Russian customs.
The report says that the subject of the deal between the Rwandan Defense Ministry and Rosoboronexport were dollars, namely 100-dollar bills, the total quantity of which is not specified. At the same time, it is noted that the total weight of the currency sold to Russia was over 290 kg. The data is taken from the customs declaration. The situation with dollars in Russia is complicated due to the tightening of Western sanctions and the country's authorities are looking for non-trivial solutions to this problem. Previously, a completely different scheme worked, according to which the Russian Federation replenished its currency reserves by importing cash from unfriendly countries through Turkey and the UAE. The scheme of cooperation with the Rwandan Ministry of Defense has surfaced for the first time. It may seem strange that Russia is buying dollars from the military department, although it is quite possible that these funds will be used to finance the war.
In the Russian Federation, participants in foreign economic activity are experiencing increasing problems with settlements in hard currencies. Foreign banks, fearing secondary sanctions, are increasingly refusing to conduct transactions, as a result of which the inflow of dollars and euros into Russia continues to decline. On August 15, the Central Bank of the Russian Federation cited statistics according to which in the second quarter of this year, only 17.6% of Russian exports were paid for in currencies “unfriendly” to the Kremlin, while in the same period last year this figure was 32.3%, and before the full-scale Russian invasion of Ukraine - 84.6%
Meanwhile, not everyone is ready to carry out trade operations with the Russian Federation in rubles or national currency, and this applies even to the so-called "friendly" countries of Moscow. For example, counterparties from the BRICS countries prefer dollars and euros.

Loading comments...