TheBank ofRussia preserves theforeign cash restrictions duetothesanctions enacted against Russia that prohibit Russian financial institutions from purchasing Western countries’ cash.
Individuals whoopened foreign currency accounts ordeposits before 9March 2022are still allowed towithdraw foreign currency intheamount equal tothebalance offunds asof00.00 Moscow time onthesaid date, butnomore thanUS $10,000or theequivalent amount ineuros, regardless ofthecurrency ofthedeposit oraccount, provided that they have notused this opportunity previously.
Asbefore, theremaining funds canbewithdrawn inrubles. Thewithdrawal amount maynotbeless than that calculated asofthedate ofwithdrawal attheBank ofRussia’s exchange rate forthefunds credited totheaccount before 9September 2022. Thefunds credited after 9September 2022 should bewithdrawn attheexchange rate setbythebank asofthewithdrawal date.
Also, theregulator hasextended foranother sixmonths thebanonbanks charging afeeonindividuals forforeign cash withdrawals from their accounts ordeposits.
Foreign funds transferred without opening anaccount orviaelectronic wallets should bewithdrawn inrubles. Thewithdrawal amount maynotbeless than that calculated asofthedate ofwithdrawal attheBank ofRussia’s exchange rate.
Non-resident legal entities maynotwithdraw cash inUS dollars, euros, British pounds, orJapanese yenuntil 9September 2024. There arenorestrictions onother foreign currencies.
Resident legal entities maywithdraw cash inUS dollars, euros, British pounds, orJapanese yenwithin thenext sixmonths tocover expenses exclusively onbusiness trips asperregulatory requirements. There arenorestrictions onother foreign currencies, provided that these operations comply with therequirements ofRussian legislation.
