The Ministry of Finance of the Russian Soviet Federative Socialist Republic (), known prior to 1946 as the People's Commissariat for Finance (), 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), previously known as the Russian Socialist Federative Soviet Republic and the Russian Soviet Republic, and unofficially as Soviet Russia,Declaration of Rights of the labo ...

from 1918 until the

fall of the USSR The Soviet Union was formally dissolved as a sovereign state and subject of international law on 26 December 1991 by Declaration No. 142-N of the Soviet of the Republics of the Supreme Soviet of the Soviet Union. Declaration No. 142-Н of ...

in 1991. It was subordinate to the Ministry of Finance of the USSR.

History

The Narkomfin commissar was part of

Sovnarkom The Council of People's Commissars (CPC) (), commonly known as the ''Sovnarkom'' (), were the highest executive authorities of the Russian Soviet Federative Socialist Republic (RSFSR), the Soviet Union (USSR), and the Soviet republics from 1917 ...

Nikolai Krestinsky Nikolay Nikolayevich Krestinsky (; 13 October 1883 – 15 March 1938) was a Soviet Bolshevik revolutionary and politician who served as the Responsible Secretary of the Communist Party of the Soviet Union. Born in Mogilev to a Ukrainia ...

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 The State Bank of the USSR (), known as the State Bank of the RSFSR from 1921 to 1923, and commonly referred to as Gosbank (), was the central bank and main component of the single-tier banking system of the Soviet Union. It replaced the State Ban ...

, the State Bank of the RSFSR and then the

Soviet Union The Union of Soviet Socialist Republics. (USSR), commonly known as the Soviet Union, was a List of former transcontinental countries#Since 1700, transcontinental country that spanned much of Eurasia from 1922 until Dissolution of the Soviet ...

. On 26 November 1921,

Lenin Vladimir Ilyich Ulyanov ( 187021 January 1924), better known as Vladimir Lenin, was a Russian revolutionary, politician and political theorist. He was the first head of government of Soviet Russia from 1917 until Death and state funeral of ...

issued a note calling for the appointment of

Grigory Sokolnikov Grigori Yakovlevich Sokolnikov (born Hirsch Yankelevich Brilliant; 15 August 1888 – 21 May 1939) was a Russian revolutionary, economist, and Soviet politician. Born to a Jewish family in Romny (now in Ukraine), Sokolnikov joined the Russian ...

, 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 (1 February 1931 – 23 April 2007) was a Soviet and Russian politician and statesman who served as President of Russia from 1991 to 1999. He was a member of the Communist Party of the Soviet Union (CPSU) from 1961 to ...

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

, and

Vnesheconombank Vnesheconombank or Vneshekonombank () is shorthand for the Bank for Bank for Foreign Economic Affairs, established in 1988 from the former Foreign Trade Bank of the USSR. It may refer to: * Vnesheconombank (USSR), a Soviet bank in activity from 19 ...

. 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 country spanning Eastern Europe and North Asia. It is the list of countries and dependencies by area, largest country in the world, and extends across Time in Russia, eleven time zones, sharing Borders ...

(1991), and the

Ministry of Finance A ministry of finance is a ministry or other government agency in charge of government finance, fiscal policy, and financial regulation. It is headed by a finance minister, an executive or cabinet position . A ministry of finance's portfoli ...

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