Increased volatility of the main indicators of Russian and international financial markets served as a natural impetus for the development of financial risk management practices. Hedging with the use of financial market operations is the classic and the most effective instrument to reduce the exposure to financial risks. However, when performing transactions in the Russian market, companies face constraints associated with the financial market imperfections. This paper discusses the key constraints that reduce the scope of application of derivatives as currency risk hedging instruments of industrial companies. These constraints make it reasonable to take advantage of the so-called natural (internal) hedging: managing the structure of debt and assets of the company depending on the structure of revenue and obligations, diversification of assets, transfer of risk to shareholders, etc.