The Central Bank will extend the ban on transfers abroad of funds of unfriendly non-residents from brokerage accounts

From April 1, the Central Bank will extend restrictions on transfers abroad of funds of non-residents from unfriendly countries from the accounts of Russian brokers and trustees. The restriction will be extended for six months, follows from messages regulator.

The decision was made to maintain financial stability, according to the Central Bank. The restriction was first introduced on April 1, 2022. The last time the Bank of Russia extended the restrictions was in October 2022, until March 31, 2023.

Lusine Balasyan