Bank of Russia introduces temporary procedure for foreign cash transactions for legal entities and individual entrepreneurs from 10 March to 10 September 2022
During the effective period of the temporary procedure for foreign cash transactions, resident legal entities and resident individual entrepreneurs may receive cash in US dollars, Japanese yen, British pounds, and euros in the amount not exceeding 5,000 US dollars and only to cover expenses for foreign business trips. In certain cases, banks may request the regulator to increase this amount.
As regards any other currencies, resident legal entities and resident individual entrepreneurs may receive cash on the grounds provided for by Russian laws, without any restrictions, at the market exchange rate as of the withdrawal date.
During the effective period of the temporary procedure for foreign cash transactions, non-resident legal entities and non-resident individual entrepreneurs are not allowed to receive cash in US dollars, Japanese yen, British pounds, and euros. As to any other currencies, non-residents may receive funds from their accounts without any restrictions, at the market exchange rate as of the withdrawal date.
All other terms and conditions of deposits and accounts in US dollars, euros, British pounds, and Japanese yen opened by legal entities and individual entrepreneurs as of 10 March 2022 remain unchanged.