The Central Bank has extended restrictions on the transfer of funds abroad

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AK&M 31 March 2023 18:06

The Bank of Russia has extended restrictions on the transfer of funds abroad until September 30, 2023. This is reported by the press service of the Central Bank.

Russian citizens, as well as resident individuals from friendly countries, will still be able to transfer no more than $1 million or the equivalent in another foreign currency to any accounts in foreign banks within a month.

The regulator has maintained limits on transfers through money transfer systems — no more than $ 10 thousand per month or the equivalent in another foreign currency.

Citizens of both friendly and unfriendly countries working in Russia can transfer funds abroad in the amount of wages.

The ban on the transfer of funds abroad remains for non—resident individuals from unfriendly countries who do not work in Russia, as well as for legal entities from such states. This restriction does not apply to foreign companies that are controlled by Russian legal entities or individuals.

Banks from unfriendly states can make money transfers in rubles using correspondent accounts opened in Russian credit institutions, if the payer's and recipient's accounts are opened in foreign banks.