The Ministry of Finance of the Russian Soviet Federative Socialist Republic (russian: Министерство финансов РСФСР), known prior to 1946 as the People's Commissariat for Finance (russian: Народный комиссариат финансов), or shortened to Narkomfin, was part of the government of the

Russian Soviet Federative Socialist Republic The Russian Soviet Federative Socialist Republic, Russian SFSR or RSFSR ( rus, Российская Советская Федеративная Социалистическая Республика, Rossíyskaya Sovétskaya Federatívnaya Soci ...

from 1918 until the fall of the USSR in 1991. It was subordinate to the Ministry of Finance of the USSR.

History

The Narkomfin commissar was part of

Sovnarkom The Councils of People's Commissars (SNK; russian: Совет народных комиссаров (СНК), ''Sovet narodnykh kommissarov''), commonly known as the ''Sovnarkom'' (Совнарком), were the highest executive authorities of ...

Nikolai Krestinsky Nikolay Nikolayevich Krestinsky (russian: Никола́й Никола́евич Крести́нский; 13 October 1883 – 15 March 1938) was a Russian Bolshevik revolutionary and Soviet politician who served as the Responsible Sec ...

was the first commissar, appointed in 1918. However, following the introduction of the

New Economic Policy The New Economic Policy (NEP) () was an economic policy of the Soviet Union proposed by Vladimir Lenin in 1921 as a temporary expedient. Lenin characterized the NEP in 1922 as an economic system that would include "a free market and capitalism, ...

, Narkomfin was made responsible for

Gosbank Gosbank (russian: Госбанк, Государственный банк СССР, ''Gosudarstvenny bank SSSR''—the State Bank of the USSR) was the central bank of the Soviet Union and the only bank in the entire country from 1922 to 1991. ...

, the State Bank of the RSFSR and then the

Soviet Union The Soviet Union,. officially the Union of Soviet Socialist Republics. (USSR),. was a List of former transcontinental countries#Since 1700, transcontinental country that spanned much of Eurasia from 1922 to 1991. A flagship communist state, ...

. On 26 November 1921,

Lenin Vladimir Ilyich Ulyanov. ( 1870 – 21 January 1924), better known as Vladimir Lenin,. was a Russian revolutionary, politician, and political theorist. He served as the first and founding head of government of Soviet Russia from 1917 to 1 ...

issued a note calling for the appointment of

Grigory Sokolnikov Grigori Yakovlevich Sokolnikov (born Hirsch Brilliant or Girsh Yankelevich Brilliant; 1888–1939) was a Russian Old Bolshevik revolutionary, economist, and Soviet politician. Early career Grigori Sokolnikov was born Girsh Yankelevich Brillia ...

, who took control of the organisation in 1922, although his formal position was not ratified until December 1922.Between right and left: Grigorii Yakovlevich Sokolnikov and the development of the Soviet state, 1921–1929
accessed 26 July 2008 In 1946, the People's Commissariat for Finance was transformed and renamed into the Ministry of Finance of the RSFSR. After the failed August Coup of 1991,

Boris Yeltsin Boris Nikolayevich Yeltsin ( rus, Борис Николаевич Ельцин, p=bɐˈrʲis nʲɪkɐˈla(j)ɪvʲɪtɕ ˈjelʲtsɨn, a=Ru-Boris Nikolayevich Yeltsin.ogg; 1 February 1931 – 23 April 2007) was a Soviet and Russian politician wh ...

and the RSFSR Ministry of Finance claimed authority over the Ministry of Finance of the USSR, the

, and

Vnesheconombank VEB.RF, or VEB (russian: ВЭБ.РФ (ex-Vnesheconombank)), is a Russian state development corporation. It was founded in 2007 as a development institute. VEB.RF is an investment company and development institute in Russia. It has financed more t ...

. These Soviet institutions could not carry out any orders without the consent of the RSFSR Ministry of Finance. The Ministry of Finance of the USSR continued functioning until the Ministry of Finance of the RSFSR issued a decree completing its takeover of the Soviet financial system. The RSFSR Ministry of Finance was succeeded by the Ministry of Economics and Finance of the

Russian Federation Russia (, , ), or the Russian Federation, is a transcontinental country spanning Eastern Europe and Northern Asia. It is the largest country in the world, with its internationally recognised territory covering , and encompassing one-eig ...

(1991), and the

Ministry of Finance A ministry of finance is a part of the government in most countries that is responsible for matters related to the finance. Lists of current ministries of finance Named "Ministry" * Ministry of Finance (Afghanistan) * Ministry of Finance and Ec ...

of the Russian Federation (1992).

Commissars and ministers

References

Notes Bibliography * {{DEFAULTSORT:Finance People's commissariats and ministries of the Russian Soviet Federative Socialist Republic Finance in the Soviet Union

History

Commissars and ministers

See also

References