The Bank of Russia has extended restrictions on transfers of funds abroad for the next 6 months.
The new restrictions will be in effect from October 1, 2024 to March 31, 2025 inclusive.
The Bank of Russia gave a detailed commentary on this matter.
Russian citizens and non-resident individuals from friendly countries will be able to transfer 1 million US dollars per month to foreign accounts.
This restriction also applies to the equivalent in another foreign currency.
The Central Bank of the Russian Federation’s statement emphasizes that restrictions on transfers through money transfer systems remain the same.
You can transfer no more than 10 thousand US dollars or the equivalent in foreign currency per month.
Transfer amounts are calculated at the official exchange rate of foreign currencies to the ruble of the banking transaction.
Individuals working in the Russian Federation who are not citizens of the country can transfer abroad amounts equal to a monthly salary.
The Central Bank of Russia has retained the ban on transferring funds abroad for individuals who are not working in Russia – non-residents from unfriendly countries.
The restriction, as emphasized, does not apply to foreign companies under the control of Russian legal entities or individuals.
Author: Elena Gutyro
