The Central Bank of Russia has decided to extend restrictions on money transfers abroad for another six months. These regulations will be in effect from October 1, 2023, to March 31, 2024. Russian citizens and non-resident individuals from friendly countries will still be able to make transfers to foreign accounts within the limit of $1 million or its equivalent in other foreign currencies per month.
Non-resident individuals working in Russia will retain the right to transfer abroad amounts corresponding to their salary, whether they are from friendly or unfriendly countries. The ban on transferring funds abroad remains in effect for non-resident individuals from unfriendly countries who do not work in Russia, as well as for legal entities from such countries. This restriction does not apply to foreign companies controlled by Russian individuals or legal entities.
Banks from unfriendly countries will be able to conduct money transfers in rubles using correspondent accounts opened in Russian credit institutions, provided that the payer's and recipient's accounts are opened in foreign banks.
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(Лоспеллс Хедлайнс)
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