MOSCOW, March 7. The Central Bank has extended for six months restrictions on the withdrawal of cash foreign currency, the regulator said in a statement.
«The Bank of Russia has extended for another six months, until September 9, 2024, there will be restrictions on the withdrawal of cash foreign currency,” the Central Bank said.
For those whose accounts or deposits were created before March 9, 2022, the limit on currency withdrawals continues to apply in the amount of the balance of funds as of 00:00 Moscow time on the specified date. It is set at ten thousand US dollars or the equivalent amount in euros, regardless of the deposit or account currency, provided that this option has not previously been used.
It is noted that the remaining money can be withdrawn in rubles, but the amount cannot be less than that calculated on the day of payment at the official rate of the Central Bank for funds placed in the account before September 9, 2022. Money deposited after this date can be received at the bank's exchange rate on the date of issue.
In addition, the Bank of Russia extended for six months the ban on banks taking commissions when issuing currency from accounts or deposits. Currency transfers without opening an account and through electronic wallets are issued in rubles, but the amount cannot be less than the amount calculated on the day of payment at the official rate of the Central Bank.
For non-resident legal entities, cash issuance in US dollars, euros, pounds sterling and Japanese yen not available until September 9, there are no restrictions for other currencies.
Last time, the regulator extended the restrictions on cash withdrawals for six months — until March 9, 2024. Then this decision was explained by US and EU sanctions that did not allow Russian financial institutions to purchase foreign currency in the West.