Ministry of Finance (RSFSR)

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Ministry of Finance of the RSFSR
Министерство финансов РСФСР
Agency overview
Formed8 November 1917; 106 years ago (1917-11-08)
Dissolved15 November 1991; 32 years ago (1991-11-15)
Superseding agency
JurisdictionRussian Soviet Federative Socialist Republic
HeadquartersMoscow, RSFSR, Soviet Union

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


The Narkomfin commissar was part of Sovnarkom. Nikolai Krestinsky was the first commissar, appointed in 1918. However, following the introduction of the New Economic Policy, Narkomfin was made responsible for Gosbank,[1] the State Bank of the RSFSR and then the Soviet Union. On 26 November 1921, Lenin issued a note calling for the appointment of Grigory Sokolnikov, who took control of the organisation in 1922, although his formal position was not ratified until December 1922.[2]

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 and the RSFSR Ministry of Finance claimed authority over the Ministry of Finance of the USSR, the Gosbank, and Vnesheconombank. These Soviet institutions could not carry out any orders without the consent of the RSFSR Ministry of Finance.[3] 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.[4] The RSFSR Ministry of Finance was succeeded by the Ministry of Economics and Finance of the Russian Federation (1991), and the Ministry of Finance of the Russian Federation (1992).[5]

Commissars and ministers[edit]

Name Took office Left office
People's Commissar for Finance of the RSFSR
Ivan Skvortsov-Stepanov 27 October 1917 30 October 1917
Vyacheslav Menzhinsky 30 October 1917 21 March 1918
Isidore Gukovsky 21 March 1918 16 August 1918
Nikolay Krestinsky 16 August 1918 22 November 1922
Grigori Sokolnikov 22 November 1922 6 July 1923
Miron Vladimirov 6 July 1923 November 1924
Nikolay Milyutin December 1924 December 1929
Varvara Yakovleva January 1930 September 1937
Vasily Popov February 1938 20 April 1939
Mikhail Umnov 21 April 1939 September 1939
Arseny Safronov October 1939 28 March 1941
Alexei Poskonov 28 March 1941 18 July 1945
Arseny Safronov 18 July 1945 23 March 1946
Minister of Finance of the RSFSR
Arseny Safronov 23 March 1946 July 1949
Ivan Fadeev September 1949 March 1973
Andrei Bobrovnikov March 1973 10 May 1990
Boris Fyodorov 18 July 1990 5 December 1990
Igor Lazarev 5 December 1990 11 November 1991

See also[edit]



  1. ^ The State Bank of the USSR accessed 26 July 2008
  2. ^ Between right and left: Grigorii Yakovlevich Sokolnikov and the development of the Soviet state, 1921–1929 accessed 26 July 2008
  3. ^ Huskey 1992, p. 131.
  4. ^ Huskey 1992, p. 136.
  5. ^ Ivkin, V.I., ed. (1999). Государственная власть СССР. Высшие органы власти и управления и их руководители. 1923—1991 гг. Историко-биографический справочник [State Power of the USSR. Supreme Organs of Power and Administration, and Their Heads. 1923–1991. Historical and Biographical Handbook] (in Russian). Moscow: Russian Political Encyclopedia (ROSSPEN). p. 639. ISBN 5-8243-0014-3. Retrieved 29 September 2010.