Russia extends restrictions on money transfers abroad

The Central Bank of Russia has extended restrictions on remittances abroad until September 30, 2023.

This was reported by the Bank of Russia in its Telegram-channel.

Russian citizens will be able to transfer no more than $1 million per month to any accounts in foreign banks. At the same time, the amount of funds withdrawn through money transfer systems can not exceed $10 thousand per month. There are still restrictions for other foreign currencies, the value of the withdrawn currency in dollars must not exceed the corresponding dollar figures.

Non-resident individuals, working in Russia, may still transfer money abroad in the amount of wages, regardless of whether they are citizens of friendly or unfriendly countries. At the same time, non-resident individuals from unfriendly countries who do not work in Russia, as well as legal entities from such countries are not entitled to transfer funds abroad.