The Central Bank extended for six months restrictions on the transfer of funds abroad – Kommersant

Central Bank extended until September 30, 2024, restrictions on transferring funds abroad. Limits on transfers through money transfer systems remain in force – no more than $10 thousand per month.

Non-residents working in Russia can transfer funds abroad in the amount of their wages. There remains a ban on transferring funds abroad for non-residents not working in Russia and companies from unfriendly countries. The restriction does not affect foreign companies that are under the control of Russian companies or individuals.

In turn, banks from unfriendly states can make transfers in rubles using correspondent accounts opened in Russian banks if the sender and recipient have accounts opened in a foreign credit institution.

The Bank of Russia limited the withdrawal of money abroad in March 2022 after the start of a special military operation in Ukraine and tightening sanctions against Russia. Initially, the transfer limit was $5 thousand per month, but from July 2022 it was increased to $1 million.

Read more about the current situation in the Russian economy in the material “Money has calmed down”.

Alexandra Goroshilova