The Central Bank extended the restrictions on the withdrawal of foreign currency for six months

In Russia, the limit of 10,000 US dollars or the same amount in euros, valid until September 9 of this year, for withdrawing foreign currency cash from a foreign currency account or deposit remains. The corresponding message was published on the website of the Central Bank of the Russian Federation.

The Central Bank extended the restrictions on currency withdrawals for six months

“Citizens who have not yet taken advantage of this opportunity since March 9, 2022 can only withdraw money in foreign currency that was received on an account or deposit before March 9, 2022. The rest of the funds can still be received in rubles at the market rate on the day of withdrawal. Foreign currency is issued in US dollars or euros, regardless of the deposit or account currency,” the Central Bank said.

They also noted that Citizens who have not yet had time to take advantage of this opportunity since March 9, 2022 can only withdraw money in foreign currency that was received on an account or deposit before March 9, 2022. The rest of the funds can still be received in rubles at the market rate on the day of withdrawal. Foreign currency is issued in US dollars or euros, regardless of the deposit or account currency.

The Bank of Russia is forced to maintain these and other restrictions on cash in connection with the sanctions in force against Russia, which prohibit Russian financial institutions from acquiring cash Western currencies.

Until March 9, 2023, restrictions on the purchase of foreign currency remain in force: banks can sell to citizens only euros and US dollars received by their cash desks after April 9, 2022.

< p> There are no restrictions on the sale of other foreign currencies.

Also, for resident legal entities for another 6 months, from September 9, 2022 to March 9, 2023, restrictions on receiving foreign currency for travel expenses are extended – no more than 5 thousand US dollars or not more than the same amount in equivalent in euros, pounds sterling, Japanese yens. These requirements do not apply to other currencies. Cash withdrawals in dollars, euros, pounds sterling, Japanese yen to legal entities – non-residents are not made, there are no restrictions for other currencies.

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