(Reuters) – Steel baron Vladimir Lisin, listed by Forbes magazine as Russia’s third richest man, told Kommersant newspaper on Tuesday that Moscow’s plans to charge roubles for its exports would undermine country’s position on global markets. He also criticized the proposed delisting of Russian companies’ depositary receipts from foreign exchanges, saying this would increase risks and undermine the rights of shareholders. Some politicians, including the speaker of the lower house of parliament Vyacheslav Volodin, suggested Russia should sell oil, grain, metals, fertiliser, coal and timber for roubles on global markets where it is profitable. “For decades we’ve been fighting for export markets… We’ve been developing relations with thousands of clients in 70 countries. It’s hard to imagine what would convince our buyers to switch to settlements in roubles and incur currency risks,” Lisin told the newspaper.

Source: Forbes April 05, 2022 15:47 UTC