Central Bank of Russia extends restrictions on withdrawing cash in foreign currency for another 6 months until March 9, 2027

MOSCOW. Sept 1 (Interfax) - The Central Bank of Russia has extended restrictions on withdrawing cash currency for another six months, until March 9, 2027, due to the sanctions in effect against Russia that prohibit Russian financial institutions from purchasing cash of Western countries, the CBR said in a statement.

For citizens whose foreign currency account or deposit was opened before March 9, 2022, the limit on withdrawing currency in the amount of the balance of funds as of that date is maintained, but not more than $10,000 (or the equivalent in euros), regardless of the currency of the deposit or account, provided that they have not previously exercised this option. The remaining funds can still be received in rubles.

For banks, the prohibition on charging citizens a commission when issuing currency from accounts or deposits has been maintained for six months.

Currency transfers without opening an account and through electronic wallets are issued in rubles.

Non-resident legal entities will not be able to receive dollars, euros, pounds sterling and Japanese yen in cash until March 9, 2027. There are no restrictions on other currencies.

Resident legal entities can receive dollars, euros, pounds sterling and Japanese yen in cash from their accounts only for travel expense purposes. There are no restrictions on other currencies, provided that the operations comply with the requirements of Russian legislation.