UrBC, Yekaterinburg, November 12, 2019. Ural Customs detected 1,114+ instances of Russian exchange regulations violations (total amount: RUB 6.7bn) in the nine months of 2019; 42% of cases have to do with illegal exchange transactions.

‘In the nine months of 2019, the customs authorities completed 420 checks into how both residents and non-residents comply with the existing currency law of the Russian Federation and exchange control authorities’ normative acts. This resulted in 680 administrative offense suits (with charges based on Article 15.25 of the Russian Federation Administrative Offense Code), Ural Customs’ press service reports.

The overwhelming majority of cases have to do with the offenders failing to receive the payment for goods sold to non-residents through specially authorized banks and with their failing to produce all the reports and statements regarding their exchange transactions on time.

The customs’ law-enforcement branches have also been notified of cases that might constitute the crimes described in Articles 193 and 193.1 of the Russian Federation Criminal Code (total amount: RUB 6.29bn).