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Restrictions on cash withdrawals extended

9 марта 2023

Restrictions on cash withdrawals from foreign currency accounts have been extended for another six months, until September 9, 2023, the Bank of Russia reports.

The current restrictions on the issuance of foreign cash to citizens and legal entities also remain.

If a foreign currency account was opened before 9 March 2022, then its owner can withdraw $10,000 or the equivalent in euros from it, provided that he has not used this opportunity yet. The rest of the funds can still be received in rubles.

The Central Bank also extended for six months the ban on banks to take commissions when issuing foreign currency from accounts or deposits.

Currency transfers without opening an account and through electronic wallets can only be received in rubles.

Within the next six months, that is, until 9 September 2023, resident legal entities can receive cash for travel expenses based on the payment standards established in accordance with the law, but not more than 5 thousand dollars or an equivalent amount in euros, pounds sterling, Japanese yen. There are no restrictions on other currencies.

Cash withdrawals in dollars, euros, pounds sterling, Japanese yen to legal entities - non-residents are not made, there are no restrictions on other currencies.

Law Firm “Nadmitov, Ivanov & Partners” advises clients on currency law issues.

Email: info@nplaw.ru
Tel.: +7 (495) 649-87-12

+7 (495) 649-87-12