Bank of Russia extends restrictions for nonresidents money transfers abroad

Business & Economy March 29, 16:04

Restrictions cover transfers from accounts of individuals and legal entities opened with Russian brokers and trust managers

MOSCOW, March 29. /TASS/. The Bank of Russia has extended for six months restrictions on transferring money of nonresidents from unfriendly countries abroad from accounts of brokers and trust managers, the regulator said.

"Restrictions were renewed on transfers abroad for money of nonresidents of unfriendly countries from accounts of brokers and trust managers. The Bank of Russia suspends such transactions since April 1, 2024 for six months more," the Central Bank said.

Restrictions cover transfers from accounts of individuals and legal entities opened with Russian brokers and trust managers. They are effective since April 1, 2022. "The decision was made to maintain financial stability," the Bank of Russia noted.

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