Export proceeds amounting to around $7.6 million owed to 14 Bangladeshi exporters have been stuck in Russia for at least one year as Russian importers are facing a US dollar shortage, according to Mohammad Hatem, president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA).

Bangladesh Bank yesterday barred transferring the value-added portion of export proceeds to other banks for settling the exporters’ import liabilities.

The step may increase the supply of the US dollar in the forex market