The Central Bank extended restrictions on the withdrawal of cash foreign currency for another 6 months
Miscellaneous / / August 01, 2022
The Bank of Russia has decided to extend the restrictions on foreign currency cash withdrawals for six months. These measures were previously announced by the head of the Central Bank Elvira Nabiullina.
Until March 9, 2023, you can withdraw only 10 thousand US dollars or the equivalent of this amount in euros in Russia, but this is only relevant for funds received on an account or deposit before March 9, 2022. The rest of the money can still be received in rubles at the market rate on the day of withdrawal.
At the Bank of Russia explained extension of restrictions by the sanctions in force against Russia, which prohibit Russian financial institutions from acquiring cash currency of Western countries.
Also, for resident legal entities for another 6 months, from September 9, 2022 to March 9, 2023, restrictions on receiving currency for travel expenses - no more than 5 thousand US dollars or no more than the same amount in equivalent in euros, pounds sterling, Japanese yen. These requirements do not apply to other currencies.
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