Restrictions on money transfers abroad extended
The Bank of Russia has extended the restrictions for another six months. They will be effective from 1 April through 30 September 2024.
Citizens of the Russian Federation and non-resident individuals from friendly states will still be allowed to transfer during a month no more than $1 million (or an equivalent amount in another foreign currency) to any accounts with foreign banks.
The limits on transfers via funds transfer systems also remain in place: over a month, total transfers may not exceed $10,000 (or an equivalent amount in another foreign currency). The amounts of transfers are calculated at the official exchange rate of foreign currencies against the ruble as of the date when the bank receives the transaction order.
Non-resident individuals working in Russia, whether they are from friendly or unfriendly states, are allowed to transfer funds abroad in the amount of their salary.
As to non-resident individuals from unfriendly states not working in Russia and legal entities from such countries, the ban on money transfers abroad remains effective. This restriction is not applicable to foreign companies controlled by Russian legal entities or individuals.
Banks from unfriendly states may carry out money transfers in rubles using correspondent accounts opened with Russian credit institutions if the payer and the payee have accounts with foreign banks.