The Central Bank eased restrictions on foreign transfers

The Central Bank announced an increase in the threshold for the amount of remittances abroad
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The Central Bank of Russia has announced an increase in the thresholds for the amount of remittances abroad for individuals for the next 6 months. The corresponding statement appeared on the official website of the Central Bank.

“The Bank of Russia has set new thresholds for the next 6 months on the amount of remittances for citizens. In a month, physicists have the right to transfer outside the Russian Federation from their account in a Russian bank to their account or to another individual abroad not more than 10 thousand US dollars or the equivalent in another currency. Through companies that provide services for the transfer of funds without opening an account, you can transfer no more than 5 thousand US dollars a month or the equivalent in another currency, “- said on the official website of the Central Bank. The new rules apply to residents and non-residents from non-sanctioned countries.

Earlier, the Bank of Russia imposed a restriction on the movement of funds to unfriendly countries. Citizens were allowed transfers of no more than five dollars a month. This decision was a response to the freezing of part of Russia’s reserves by foreign banks. In addition, the Bank of Russia has imposed restrictions on the issuance of foreign currency deposits and accounts of citizens. Cash will be disbursed only in rubles until September 9.

The measures taken by the Central Bank were a response to the sanctions that Western countries began to impose after the start of Russia’s special operation in Ukraine. Russian President Vladimir Putin has said that the pressure on the country has been under sanctions since the early 2000s and has only intensified in recent months.

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The Central Bank of Russia has announced an increase in the thresholds for the amount of remittances abroad for individuals for the next 6 months. The corresponding statement appeared on the official website of the Central Bank. “The Bank of Russia has set new thresholds for the next 6 months on the amount of remittances for citizens. In a month, physicists have the right to transfer outside the Russian Federation from their account in a Russian bank to their account or to another individual abroad not more than 10 thousand US dollars or the equivalent in another currency. Through companies that provide services for the transfer of funds without opening an account, you can transfer no more than 5 thousand US dollars a month or the equivalent in another currency, “- said on the official website of the Central Bank. The new rules apply to residents and non-residents from non-sanctioned countries. Earlier, the Bank of Russia imposed a restriction on the movement of funds to unfriendly countries. Citizens were allowed transfers of no more than five dollars a month. This decision was a response to the freezing of part of Russia’s reserves by foreign banks. In addition, the Bank of Russia has imposed restrictions on the issuance of foreign currency deposits and accounts of citizens. Cash will be disbursed only in rubles until September 9. The measures taken by the Central Bank were a response to the sanctions that Western countries began to impose after the start of Russia’s special operation in Ukraine. Russian President Vladimir Putin has said that the pressure on the country has been under sanctions since the early 2000s and has only intensified in recent months.

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