Bank of Russia President Elvira Nabiullina said the Bank of Russia will extend the restriction on cash withdrawals after March 9.

Cash withdrawal restriction will be extended after March 9 – Nabiullina

The Central Bank also believes that there is no basis to increase the limit on foreign currency transfers by natural persons.

“We do not see the possibility of any systemic liberalization of monetary restrictions. At first, we introduced severe restrictions, and when the financial situation stabilized, we lifted some of the restrictions. We removed them quickly enough and left only those that are now important for ensuring overall financial stability, ”he said on the sidelines of the Ural Forum“ Cybersecurity in finance ”(quote from Vedomosti).

On March 9, 2022, the Bank of Russia introduced a restriction on withdrawals of more than $10,000 from foreign currency deposits and accounts. The new order was to be valid until September 9.

On August 1, 2022, the regulator extended the restriction on cash withdrawals in foreign currency for another six months, until March 9, 2023. Then the Bank of Russia called this decision forced, explaining that it maintains restrictions on currency in connection with the current sanctions against Russia, which prohibit Russian financial institutions from purchasing currency in cash from Western countries.

The limit to withdraw cash from a foreign currency account or deposit remains at $10,000.

Author:

anastasia mariana

Source: RB

Previous article6 love books for Colleen Hoover fans
Next articleHalf the price of AirTag and just as good (and compatible with Find My app on iPhone)
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.

LEAVE A REPLY

Please enter your comment!
Please enter your name here