Newsletter EN

The Bank of Russia has extended restrictions on money transfers abroad

The restrictions have been extended through March 31, 2024. The restrictions include:

  • limits for Russian citizens and non-residents from friendly countries: 1 million US dollars (or an equivalent amount in other foreign currencies) - for transfer within a month to any accounts with foreign banks, 10 thousand US dollars (or an equivalent amount in other foreign currencies) - via money transfer systems;
  • non-resident natural persons working in Russia, whether they are from friendly or unfriendly countries, can transfer their wages;
  • transfers abroad are prohibited for organizations from unfriendly countries and non-resident natural persons from these countries not working in the Russian Federation. This restriction does not apply to foreign companies controlled by Russian legal entities or natural persons;
  • banks from unfriendly countries can transfer money in rubles using correspondent accounts opened with Russian credit institutions, provided that the payer and the payee have accounts with foreign banks.

Document: Information of the Bank of Russia dated September 29, 202.