(Corrects to say strong rouble makes exports less competitive, removes reference to imports)
MOSCOW (Reuters) – Russia could cut some state spending to channel funds for foreign currency interventions, Finance Minister Anton Siluanov said on Wednesday, as Moscow looks for ways to keep a lid on the rouble’s strengthening, which is making exports less competitive.
With Russia looking for ways to soften the blow of unprecedented Western sanctions on its financial sector, Siluanov said his ministry would also suggest allowing export-focused companies to receive proceeds from non-residents in cash.
(This story corrects to say strong rouble makes exports less competitive, removes reference to imports)
(Reporting by Reuters)
