MOSCOW, May 12 (RIA Novosti) - Russia will lift restrictions on bringing capital into and taking it out of the country from July 1, the finance minister said Friday.
"On July 1, Russia will lift restrictions on import and export of capital that have been in place since the default of [August] 1998," Alexei Kudrin said.
"We have accumulated the necessary potential to be considered a country with a fully stable currency whose stability is guaranteed for many years ahead in any circumstances," Kudrin said.
The move is part of Russia's bid to make the ruble fully convertible by the middle of this year. President Vladimir Putin in his state of the nation address Wednesday said work on ruble convertibility should be finished by July 1.
Kudrin said following Putin's speech the measures set out were realizable.
