Kazakhstan, Russia and Belarus agree to coop in foreign exchange control

ASTANA. KAZINFORM - Prime Minister of Russia Dmitry Medvedev instructed the Federal Tax Service to sign protocols on cooperation of Russia, Kazakhstan and Belarus in the sphere of foreign exchange control, Kazinform has learnt from banki.ru.

"The proposal of the Russian Ministry of Finance on signing of the protocols on cooperation between the Federal Tax Service of Russia, the National Bank of Belarus, the National Bank of Kazakhstan, the State Control Committee of Belarus in the sphere of foreign exchange control was adopted," the statement of the official website of the Russian Government says.

The signing of the protocols will create necessary organizational and legal conditions for the development of cooperation in foreign exchange sphere at state-by-state basis and will help prevent, detect and repress violations of currency legislation.

The document stresses that it will also help prevent transferring money out of Russia in order to bypass currency controls.