(Reuters) – Russia Tuesday announced that export-oriented companies could transfer foreign currency overseas to account holders under specific conditions. This move was made to help pay imports as well as to reduce the surging rouble.

Export-oriented firms will be able to use foreign currency that they have received from nonresidents, provided it is returned to Russia in good condition and then sold on the international market.

It marks the end of Russia’s capital control measures, which were introduced after it sent troops to Ukraine in Feb. In a bid for financial security and support to its rouble, this is a relief from strict capital controls.

The result is that the rouble rose to 60 cents US dollar, a new high after falling to records in March.

Russia began to relax capital restrictions due to the impact of the high rouble on government revenue. In an effort to revitalize lending, and also to reduce the rouble, the central banks has lowered its key interest rate by 900 basis points to 11%.

Russia relaxed last month a requirement that export-oriented firms sell at least 80% of their foreign revenue in Russia. This was done to stem the currency’s rise.

VTB Capital Analysts said that Tuesday’s decision would help Russian exporters increase foreign transaction as there are increased risks when conducting forex transactions via Russian banks. This is because a greater number of Russian banks have been cut off from the international payments network SWIFT.