Information message of the Press-Service of Goznak 26.02.2015

Regarding the article called “The rouble banknotes have become more expensive by one third due to the Swiss ink” published in the Izvestia newspaper on February 25, 2015 where it is stated that due to the price increase of foreign components necessary for the production of banknotes of the Bank of Russia, their manufacturing cost has increased dramatically, the Press-Service of Goznak is entitled to advise the following:
The disbursing price of the banknotes and coins of the Bank of Russia produced at Goznak is determined by the contract. Moreover, the price is fixed and is not subject to reconsideration. In case of changes in the exchange rate of currencies to rouble, the growth of prices for the imported components necessary for the banknote production does not result in the automatic growth of the product disbursing price. It is an ordinary exchange rate risk that Goznak undertakes.  
During the price agreement the specialists of the Bank of Russia analyze the price dynamics of all the cost elements; late technology changes and other factors are also taken into account. The actual change of the disbursing prices already stipulated in 2015 is much lower than the 32 per cent mentioned in the article to compare with the prices of 2014.    
It is worth mentioning that in the cost structure of the production of the banknotes of the Bank of Russia the share of imported components, not only inks, is from 18 up to 47 % depending on the banknote denomination. These materials and components are not produced in the Russian Federation and cannot be replaced with homemade products without considerable changes in the production technology. At the same time, the possibility of the technology change exists in principle, but it is not worthwhile to carry it out in normal conditions.  
We would also like to advise that Goznak produces banknotes not only for the Bank of Russia, but also for the central banks of other countries. Only in 2014 Goznak exported over 1 billion 150 million pieces of banknotes. We also produce a wide range of other products; therefore it is impossible to judge about the changes of disbursing prices of the banknotes of the Bank of Russia on the basis of the open information about the purchase activity of Goznak. It is also impossible to receive objective information from “experts”, some of whom, as it turns out, simply don’t exist and others can’t have access to the primary sources of information due to the specifics of their occupation. One can obtain reliable information about the production of the Russian banknotes only at the Bank of Russia and Goznak.
In conclusion we would like to note that it is obvious that no emitting center (Central Bank) or banknote manufacturer discloses information about the details of security production. Goznak follows the same rule with an important addition – according to the norms of the Russian legislation the price of banknotes is a state secret not to be disclosed to third parties. Already mentioning such data in the mass media is in our opinion a breach of the Law of the Russian Federation “About Mass Media”, Chapter 4, debarring usage of mass media “… for disclosing information composing the state or other secret specially protected by the law…”  
Goznak is an open company. We gladly co-operate with representatives of mass media. At the same time we kindly ask you to treat the fact that our company has rules for working with the mass media with consideration; these rules are based upon the fact that Goznak is a secure enterprise working with specific products and information. There are severe restrictions of spreading information about the manufacture of banknotes and other products determined first of all by the provision of security of the currency circulation of our country, i.e. your and our safety. At the same time, we are ready to provide mass media with all permitted information about the production of banknotes of the Bank of Russia.    
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