The head of the Investigative Committee has expressed the intention to intervene in the economic policy of Russia
Today, at 18:05, Views: 6130
The head of the Investigative Committee Alexander Bastrykin, speaking on the expanded board of the department, made several statements resonance. If they were spoken in earnest, the TFR can be in our country, the main body of regulatory and economic policy. In particular, Bastrykin threatened to give a legal assessment of the policy of the Central Bank in relation to the ruble devaluation and said that a fair rate of national currency should not exceed 40-45 rubles to the dollar.
Photo: Alexander Astafjevs
The economic situation in Russia is indeed very difficult – GDP, according to the Ministry of Economic Development in January (to January 2014), fell to 1.5%, inflation exceeded 15% and the ruble over the past year has lost twice (although in the past month the national currency has strengthened by 25%). All the fault – Western sanctions and low oil prices.
In such circumstances, the economic bloc of the government and the Central Bank are trying to help representatives from other government agencies.
It is worth noting that Vladimir Putin and Dmitry Medvedev, although it has been criticized for being slow manual mega-regulator, but generally support action to support the ruble.
On this background the statement of Alexander Bastrykin sound quite unexpectedly. According to him, “the consequences of which it (devaluation of the ruble. – « MK ») resulted, provide a basis not only for economic, and legal assessment of the actions taken monetary policy , as well as the behavior of individual major players of the currency market, which in conditions of obvious risks acting suspiciously “clearly”, drawing a huge benefit. ” In other words, without naming names and positions, the head of TFR obviously meant the leadership of the Central Bank, which under the Constitution and is responsible for the ruble. However, the fundamental law of the country, the Bank of Russia is absolutely independent authority and can not be held responsible for those or other measures of monetary policy.
However, on the proposal of the President, the State Duma may at any time change the leadership of the Central Bank.
According to Bastrykin, “rate of the national currency (63-65 rubles to the dollar) is much higher than the real market. There are all prerequisites for its correction at the level of 40-45 rubles. ” According to him, it is necessary to understand, “is not whether such a course a continuation of the speculative manipulation of the ruble in order to further capitalize on the national currency exchange rate fluctuations».
Bastrikin warned that the devaluation of the Russian ruble held “at the hard, painful to national economic scenario “, so this issue will have to seriously deal.
« MK “decided to find out why the main law enforcement agency intervenes in economic policy and what it can lead.
EXPERTS “MK»:
Alexei Mukhin, director of the Center for Political Information:
«From all appearances Bastrykina on board TFR mainly it is worth noting the proposal to abolish the priority of international law over national laws. This should be a tool in the confrontation between Russia and the former shareholders of Yukos. I recall that the Hague tribunal has decided to pay them compensation in the amount of $ 50 billion. Washington in such a situation will certainly continue to put pressure on the international tribunals and to seek improper and unfair decision.
But the rapid depreciation of the ruble – is not so much Bank of wine, as the influence of Western sanctions. And with respect to the monetary policy of the economic block of the government head of the UK is quite able to make such statements on an emotional level. We need to correctly understand this expansion of its powers ».
Konstantin Kostin, head of the Civil Society Fund:
« The State must define its powers in relation to currency market, trading on that directly affect the exchange rate. However, it requires specific, effective and, most importantly, sane tools. Should be guided by economic expediency and not go too far. Otherwise you will face as the closure of projects in the real sector, and with the emergence of “gray market” currency, excessive demand for dollars and euros.
In the current situation, the state must first stimulate the economy. At the same time, law enforcement agencies should have a legislative framework to deal with large-scale attacks on the national currency. Especially deals with the use of insider information and collusion unscrupulous officials and market participants ».
Sergei Kozlovsky, head of the analytical department of Grand Capital:
« Ruble supports the strengthening of oil and positive news to de-escalate the conflict Ukrainian. Against this background, the head of the UK comments could only very limited impact on market sentiment. In fact, we heard once again about the undervaluation of the ruble, conspiracy currency speculators and the like ».
Vadim Tkachenko, head of the financial and legal department of the group of companies vvCube:
«In accordance with Art. 1 of the Federal Law on the TFR objectives of this body is efficient and qualitative investigation of crimes that fall under all the crimes against the state authorities and the civil service. The list gets and abuse of office (Art. 285 of the Criminal Code), which may be committed by any employee of a public body, including the Central Bank and the machine. Therefore, check the Central Bank and other bodies of the financial authorities may TFR. Another issue is that the rhetoric Bastrykin addressed not only to these structures, but also some commercial organizations. And here we can talk about fraud and other crimes, which are also Untried TFR ».
Olga Leonova, company lawyer Roche & amp; Duffay:
«This measure is known to the Russian law and order. The Law N 173-FZ on Currency Regulation and Currency Control acted Article 21 (“Mandatory sale of foreign exchange earnings in the domestic market of the Russian Federation”) before January 1, 2007. In accordance with this article, 30% of foreign exchange earnings had to be sold on the domestic market in Russia. This rule was abolished in 2007, now, in 2015, Bastrykin offers to return to the old, has long been defunct normal. Of course, this is a step backwards, although enactment of this provision can really have a beneficial effect on the exchange rate against other major currencies ».
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