Russia Reimposes Some Capital Controls to Stem Ruble’s Slide

Russia imposed some capital controls to stem a drop in the ruble, the third-worst-performing currency in emerging markets this year.

The government announced late Wednesday that 43 of the country’s biggest exporters, including its main oil producers, will be required to sell their earnings from foreign sales on the domestic market for rubles to ensure a supply of foreign exchange. Russia had imposed similar requirements as the ruble plunged after the invasion of Ukraine in 2022, but then lifted them when the currency recovered.