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Formed October 24, 1780 as Expedition of state revenues Preceding agency Expedition of state revenues
Ministry of Finance of the Russian Empire
Ministry of Finance of the USSR Jurisdiction Federal government of the Russian Federation Headquarters Ilinka Street 9, Moscow Annual budget 1611.8 billion rouble (FY 2011) Agency executives Anton Siluanov, Minister
Sergei Shatalov, State Secretary-Deputy Minister of Finance
Roman Artyukhin, Federal Treasurer of Russia | ||
Ministry of Finance of the Russian Federation (Russian: Министерство финансов Российской Федерации, Минфин России, MinFin) is a federal ministry, responsible for general financial policy and for general management in the field of finance of the Russian Federation. The ministry has two predecessors, the most notable one being the Ministry of Finance of the USSR who is itself the successor of the Ministry of Finance of the Russian Empire. The agency has its headquarters in Ilinka Street 9. in Moscow.
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Anton Siluanov serve as current Minister of Finance of the Russian Federation since September 2011.
History
The Treasury Governing body in Russia was established by Imperial Decree of Catherine II in October 24, 1780 as The Expedition of state revenues, which was, in fact, the beginning of the creation of state financial authority in Russia.
Manifesto of the Emperor Alexander I "On approval of the Ministries" was founded several ministries, including Ministry of Finance of the Russian Empire.
In the Soviet Union, the Ministry was renamed as the Ministry of Finance (MOF USSR), which combines the Treasury of the Soviet republics, in particular the Ministry of Finance of the RSFSR.
The Ministry of Finance of the Russian Soviet Federative Socialist Republic was part of the Council of Ministers of the RSFSR and was under the authority of the Soviet Ministry of Finance under The Council of Ministers of the USSR, the official name of the Soviet government.
By Decree of the President of the RSFSR from November 11, 1991 (Presidential Decree № 190) The Ministry of Finance was merged with the Ministry of Economy of and the new ministry was called the Ministry of Economy and Finance of the Russian Federative Republic. Under Resolution of the Government of the Russian Federative Soviet Republic (later the Government of Russia) from November 15, 1991 (Resolution № 8) the Ministry of Finance was liquidated and its businesses and organizations transferred to the Ministry of Economy and Finance of the Russian Soviet Federative Socialist Republic.
From December 25, 1991 to February 19, 1992 the Ministry was called Ministry of Economy and Finance. By Presidential Decree of February 19, 1992 № 156, it was again divided into two ministries - the Ministry of the Economy and Finance Ministry.
Because of the 2014 Crimean crisis, a number of Western countries aimed sanctions at Russia, with personal financial transactions by certain Russian individuals proscribed. Among these sanctioned individuals were Arkady Rotenberg and Boris Rotenberg, who also happened to be shareholders of certain Russian banks. On 24 March, MasterCard and Visa declined to permit transactions at these banks for a number of hours, ostensibly because they had misinterpreted the sanctions document. Anton Siluanov, then-current Minister of Finance, told reporters on 26 March that he had revived plans to develop a Ruusian alternative card payment system to cut its dependence on Visa and MasterCard after these disruptions in their service. Siluanov said that "The payments restriction by Visa and Mastercard at one bank made us start thinking very seriously how we can secure ourselves against this kind of cases." President Vladimir Putin agreed the next day in conference with legislators: "This wasn’t our decision. We need to defend our interests. And we’ll do that. It is really too bad that certain companies have decided on [...] restrictions. I think this will simply cause them to lose certain segments of the market - a very profitable market."