Russia abolishes limits on foreign currency transfers abroad for citizens from December 8
The Bank of Russia will abolish limits on foreign currency transfers abroad for citizens of Russia and friendly countries from December 8. The regulator explained its decision by the stabilization of the situation on the domestic currency market.
A number of restrictions on the movement of capital outside Russia will remain in place until June 7, 2026 inclusive. In particular, there will continue to be a complete ban on the transfer of funds abroad for citizens of unfriendly countries not working in Russia, as well as for legal entities from these countries. An exception is provided for foreign companies controlled by Russian legal entities or individuals. These bans do not apply to operations involving the transfer of funds by foreign investors who invest in the Russian financial market from "In" accounts to accounts abroad, the regulator reminded.
Citizens of unfriendly countries working in Russia retain the right to transfer funds abroad only in the amount of their salaries. Banks from unfriendly states may still make transfers in roubles using correspondent accounts in Russian credit organizations if the payer's and recipient's accounts are opened in foreign banks.
Restrictions on the transfer of funds abroad have been in effect in Russia since 2022, and in September the Central Bank extended them for another six months - until March 31, 2026. At that time, the limit on the withdrawal of funds by citizens of Russia and friendly countries to foreign banks in the amount of no more than $1 million per month was extended, as well as the monthly limit on the transfer of funds through money transfer systems - in the amount of no more than $10,000.
December 3, the European Commission announced the inclusion of Russia in the list of countries with a high level of risk in the field of combating money laundering and terrorist financing. The document will come into force in a month, provided there are no objections from the European Parliament and the European Council. Inclusion in the financial blacklist will entail a significant tightening of control over financial transactions of organizations and individuals from Russia, in particular, it will oblige financial institutions to strengthen due diligence of all transactions.
This article was AI-translated and verified by a human editor
