Central Bank extends period of restriction on withdrawal of foreign currency from Russia

The banking authority of Russia (The Central Bank of Russian Federation) has prolonged the limitations on foreign currency withdrawals starting from March 9, 2022, for an additional six months, Report informs, citing the bank.

It’s important to highlight that this limitation encompasses a prohibition on the withdrawal of amounts exceeding $10,000 or the equivalent in euros from foreign currency accounts.

Furthermore, the financial oversight body has continued the suspension of service charges by banks for currency withdrawals from accounts. Owing to these restrictions, any sum surpassing $10,000 or its euro equivalent must be taken out in rubles.

Additionally, currency transactions are permissible without the necessity of an account and can only be conducted in the national currency via electronic wallets.