The Central Bank extended until September 30, 2023 the restrictions on money transfers abroad. Such restrictions include, for example, a limit on the number of transfers for non-residents working in Russia and citizens of “friendly” countries.
The extension of restrictions on foreign money transfers is announced on the Bank of Russia website.
These restrictions include:
- limit of transactions using the money transfer system in the amount of not more than $10,000;
- non-residents of the Russian Federation working in Russia can transfer abroad an amount equal to their salary;
- Persons who do not work in Russia and who are not residents of the Russian Federation, as well as legal entities from “enemy” countries, cannot transfer money abroad;
- residents of “friendly” countries and citizens of the Russian Federation are not allowed to transfer more than $1 million or the equivalent in another currency to foreign accounts.
All these restrictions will be in place until September 30, 2023, the Bank of Russia said.
Author:
Kirill Bilyk
Source: RB
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