December 22, 2014 / 10:39 AM / 3 years ago

Russia's Gazprom says FX revenues sales to help ruble stabilization efforts

MOSCOW (Reuters) - Gazprom (GAZP.MM), Russia’s top gas producer, will stick to President Vladimir Putin’s urge to sell foreign currency revenues on the domestic market, the company’s deputy CEO Alexander Medvedev told reporters on Monday.

An employee counts Russian ruble banknotes at a private company's office in Krasnoyarsk, Siberia, December 17, 2014. REUTERS/Ilya Naymushin

“This doesn’t create any issues for us. We understand this will help to stabilize the (ruble) rate,” he said.

Last week, Russian officials have called for large exporters to sell part of their foreign exchange revenues on the domestic market to help the ruble, which is down some 45 percent against the dollar so far this year RUBUTSTN=MCX.

Reporting by Denis Dyomkin; writing by Katya Golubkova; Editing by Lidia Kelly

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