(Reuters) – Russia said Tuesday that foreign-focused businesses can send foreign currency to overseas accounts under certain conditions. The move is intended to ease the surging rouble and help imports pay.

On Tuesday, the finance ministry will allow export-oriented businesses to send foreign currency from non-residents into their overseas accounts. However, this must be returned to Russia or sold on the Russian market in accordance with earlier state decrees.

The Russian government has relaxed capital restrictions that were in place shortly after its February deployment to Ukraine. This was done to safeguard the country’s financial sector and boost the rouble.

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

Russia has begun to loosen capital controls as the strong ruble had impacted government revenues. 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.