MOSCOW, September 29. /TASS/. Russia’s Central Bank has extended restrictions on money transfers to other countries for another half a year, the regulator said in a statement.
The restrictions will be in effect from October 1, 2023 through March 31, 2024.
Russian citizens and non-resident individuals from friendly countries will still be allowed to transfer no more than $1 mln or an equivalent amount in other foreign currencies to any accounts in foreign banks within a month.
The limits on transfers via money transfer systems also remain in place as total transfers may not exceed $10,000 or an equivalent amount in other foreign currencies per month. The amounts of transfers are calculated at the official exchange rate of foreign currencies against the ruble as of the date the bank receives the transaction order.
Non-resident individuals working in Russia, whether they are from friendly or unfriendly countries, are allowed to transfer funds abroad in the amount of their salary, the Bank of Russia said.
The ban on money transfers remains in place for non-resident individuals from unfriendly countries not working in Russia and legal entities from such states. This restriction does not apply to foreign companies controlled by Russian legal entities or individuals.
Banks from unfriendly states may transfer funds in rubles using correspondent accounts opened with Russian credit institutions, provided that the payer and the payee have accounts with foreign banks.