Russia restricts capital flows to unfriendly countries

Russia's central bank on March 25 said restrictions it imposed on capital flows were a tit-for-tat move after its reserves were frozen by Western countries over events in Ukraine, Report informs referring to Reuters.

"In response to the freezing of part of Russia's reserves, Russia also introduced restrictions on the movement of funds that could be transferred to unfriendly countries by a comparable amount," the central bank said.

The bank also said that all the gold in Russia's foreign exchange reserves was currently on Russian territory.

According to the central bank, Russia's international reserves reached their all-time high as of February 18, rising to $643.2 billion from $639.6 billion over the week.