MOSCOW, March 2. /TASS/. Russia’s Central Bank has temporarily suspended transfers from accounts of non-residents of legal and physical entities from a number of countries to foreign accounts in a move to prevent withdrawal of funds from the country’s financial market, the press service of the regulator told TASS.
"To prevent withdrawal of funds from the Russian financial market and to support financial stability the Bank of Russia has temporarily suspended transfers from accounts of non-residents of legal and physical entities from a number of countries to accounts abroad. Moreover, transfers for non-residents without opening accounts have been limited to $5,000 or in the equivalent per month," the Central Bank said.
The restriction does not cover Russian citizens, as well as the majority of foreign citizens from CIS states, the regulator added.
The letter, in which the Bank of Russia banned from March 1 to 31, 2022, money transfers from Russia to other countries to non-residents from 43 countries that announced sanctions against Moscow, was sent by the regulator to credit organizations on March 1, RBC reported earlier.