March 19, 2020 / 6:56 AM / 21 days ago

Russia's pegs extra forex sales for Sberbank to Urals oil

MOSCOW, March 19 (Reuters) - Russia’s daily foreign currency sales starting on Thursday for the purchase of a stake in lender Sberbank will be carried out in line with a special mechanism built around the price of Urals oil, the Russian central bank said.

If the price of Urals oil is higher than $25 per barrel then there will be no forex sales related to the Sberbank deal, it said. The mechanism will be in place until Sep. 30, it added. (Reporting by Maria Kiselyova; writing by Tom Balmforth; editing by Christian Schmollinger)

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