The Bank of Russia has maintained restrictions on foreign currency cash withdrawals for another six months, until March 9, 2027. This is reported on the regulator's website.
Restrictions remain in place due to the current sanctions, which prohibit domestic financial institutions from purchasing the cash currency of Western countries, the Central Bank emphasizes.
For individuals whose foreign currency account or deposit was opened before March 9, 2022, there is a limit on currency withdrawal in the amount of the remaining funds at 00:00 MSK on the specified date, but not more than $10 thousand or an equivalent amount in euros, regardless of the currency of the deposit or account, provided that they have not previously realized such an opportunity.
Disbursement of funds in excess of the established limit is carried out in rubles. At the same time, the amount of payment for funds deposited in the account before September 9, 2022, cannot be lower than the amount calculated on the date of the transaction at the official exchange rate of the Bank of Russia. The conversion of funds credited after September 9, 2022, is carried out at the internal rate of the credit institution on the date of issue.
Payment of funds for currency transfers without opening an account, as well as for transactions using electronic wallets, is carried out in rubles.
Non–resident legal entities will not be issued cash in US dollars, euros, pounds sterling, and Japanese yen until March 9, 2027, and there are no restrictions on other currencies.
Over the next 6 months, cash disbursements of US dollars, euros, pounds, and Japanese yen to resident legal entities from their accounts are allowed exclusively for travel expenses within the limits of regulations approved by Russian law. The restrictions do not apply to transactions with other foreign currencies, provided that the requirements of the current currency legislation of the Russian Federation are met.
