The Ministry of Finance proposed to ban large cash transactions between legal entities and individuals

The Russian Ministry of Finance proposed to ban state registration of transactions between individuals and legal entities with cash if the amount exceeds 5 million rubles or 50 million rubles in total per month. The initiative has been prepared in accordance with the plan for the "whitewashing" of economic sectors, approved by the Government of the Russian Federation.

"According to the Civil Code, a number of transactions are subject to state registration, that is, they are recorded in the Federal Register. These include real estate transactions, for example, the sale of a residential building, an apartment, transactions for the sale of enterprises, as well as lease agreements for buildings, structures, non—residential premises, and land for a period of at least one year," Interfax reports.

The news is being updated.