Uzbekistan makes foreign currency trading criminal offenceFebruary 5, 2013 - 16:49 AMT PanARMENIAN.Net - Uzbekistan has made trading with foreign currency a criminal offence, Uzbekistan’s Tax Committee warned on Tuesday, the latest in a string of measures apparently aimed at preventing the global market slump from eating into the Central Asian republic’s reserves, RIA Novosti reported. “The State Tax Committee warns entrepreneurs and individuals they will be held liable for making settlements in cash foreign currency in the sphere of retail trade and services, including criminal liability,” the committee said in a statement. From February 1, Uzbekistan banned the sale of cash foreign currency to individuals in an apparent move to alleviate the foreign currency deficit in the former-Soviet republic. Uzbekistan has suffered from a slump in world commodity prices in recent years, exporting less cotton and gas, the major sources of its budget revenues, due to falling demand. World prices for cotton have fallen in recent years, while Russian energy giant Gazprom is buying less gas from Uzbekistan due to lower demand from European consumers. Car dealers in Uzbekistan often illegally sell locally produced vehicles for foreign currency. A month ago the Uzbekistan authorities announced air tickets would also be sold also for foreign exchange only, in a bid to bring in foreign currency from expatriate workers. The foreign currency exchange rate on the Uzbek black market is about 30 percent higher than the official exchange rate set by the republic’s central bank. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. Macron says France commemorates 109th anniv. of Armenian genocide Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says. Freedom House concerned by mounting reports of police violence in Armenia Freedom House urged Armenian authorities to investigate this pattern of excessive force and inhumane treatment. |