Putin says Russia not planning capital controls to stem outflows

President Vladimir Putin said his government doesn't intend to impose measures to stem the outflow of capital from Russia.

"We don't plan to introduce currency restrictions or restrictions on the movement of capital," Putin said today at a Moscow investment forum organized by VTB Capital.

His comments echo central bank Chairman Elvira Nabiullina, who told the same conference earlier today that speculation policy makers are considering introducing limits on capital movements is "absolutely baseless."

Putin is fighting to rein in capital outflows, which are forecast to reach $100 billion this year compared with $61 billion in 2013 as sanctions over the conflict in Ukraine prompt investors to sell Russian assets. Russia hasn't had a net inflow of private capital since 2007, the year after it lifted restrictions.

The ruble was the world's worst-performing currency last month, losing 14.3 percent against the dollar, data compiled by Bloomberg show. It gained 0.3 percent today in Moscow.

To contact the reporter on this story: Ilya Arkhipov in Moscow at iarkhipovbloomberg.net To contact the editors responsible for this story: Balazs Penz at bpenzbloomberg.net Andrew Langley