Restrictions on cash money operate in connection with the current sanctions, recalled in the Russian Central Bank.
The Bank of Russia has extended restrictions on foreign currency withdrawals for another six months, until September 9, 2023. This was announced by the press service of the regulator on Monday, March 6.
“The Bank of Russia maintains restrictions on cash currency in connection with the sanctions imposed against our country, prohibiting domestic financial institutions from taking cash currency from Western countries,” the report said.
So, if a foreign currency account or deposit was opened before March 9, 2022, a Russian who has not yet taken advantage of this opportunity can withdraw up to $10,000 or the euro equivalent from it. The rest of the funds can be received only in rubles.
For banks, the ban on charging citizens a commission when issuing money from accounts or deposits has been extended for six months.
Banks can sell to citizens dollars and euros received at their cash desks from April 9, 2022. There are no restrictions on the sale of other foreign currencies (except dollars and euros).
Money transfers without opening an account and through electronic wallets are provided in rubles.
During the next six months, that is, until September 9, 2023, resident legal entities can receive money for travel expenses, but not more than $5,000 or the equivalent in euros, pounds sterling, Japanese Yen. There are no restrictions on issuing other currencies.
Legal entities – non-residents cannot receive cash dollars, euros, pounds and yen. There are no restrictions for other currencies.
Recall that on the night of March 9, 2022, Russians were deprived of the right to buy foreign currency. But you can exchange it for rubles at any time and for any amount. This restriction has been extended several times.
Also, Russian President Vladimir Putin has limited Russians from exporting money abroad in cash.
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Source: korrespondent
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