Limits remain on transfers through money transfer systems – no more than $10 thousand per month.
The Bank of Russia has extended for another six months – until March 31, 2024 – the restriction on the transfer of money abroad. The regulator announced this on Friday, September 29.
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It is indicated that Russian citizens and non-resident individuals from “friendly” countries will still be able to transfer no more than $1 million or the equivalent of another foreign currency to any accounts in foreign banks within a month.
Limits on transfers through money transfer systems are also maintained – no more than $10,000 per month (or the equivalent in another currency). Transfer amounts are determined at the official exchange rate of foreign currencies in the ruble on the date the bank receives the transaction order.
Non-resident individuals working in Russia can transfer funds abroad in the amount of their salary. Representatives of both “friendly” and “unfriendly” countries have this right.
The ban on transferring funds abroad remains in place for non-resident individuals from “unfriendly” countries who do not work in Russia, as well as for legal entities from such countries. This restriction does not apply to foreign companies controlled by Russian legal entities or individuals.
Banks from “unfriendly” countries can carry out transfers of funds in rubles using correspondent accounts opened in Russian credit institutions, if the accounts of the payer and recipient are opened in foreign banks.
Earlier in September, Russia extended restrictions on currency withdrawals. For citizens whose foreign currency deposit is open until March 9, 2022, the money withdrawal limit remains at an amount not exceeding 10 thousand dollars or the equivalent amount in euros.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.