Bank of Russia extends restrictions on foreign cash withdrawals for another six months until 9 March 2026
The Bank of Russia maintains foreign cash restrictions due to the sanctions enacted against Russia, which prohibit Russian financial institutions from purchasing Western countries’ cash.
Individuals who opened foreign currency accounts or deposits before 9 March 2022 are still allowed to withdraw foreign currency in the amount equal to the balance of funds as of 00.00 Moscow time on the above date but not more than $10,000 or the equivalent amount in euros, regardless of the currency of the deposit or account, provided that they have not used this opportunity previously.
As before, the remaining funds may be withdrawn in rubles. The withdrawal amount may not be less than that calculated as of the date of withdrawal at the Bank of Russia’s exchange rate for the funds credited to the account before 9 September 2022. Funds credited after 9 September 2022 are paid out at the exchange rate set by the bank as of the withdrawal date.
The regulator has extended for another six months the ban on charging individuals a fee for foreign cash withdrawals from their accounts or deposits.
Foreign funds transferred without opening an account or via electronic wallets are paid out in rubles. The withdrawal amount may not be less than that calculated as of the date of withdrawal at the Bank of Russia’s exchange rate.
Non-resident legal entities may not withdraw cash in US dollars, euros, British pounds, or Japanese yen until 9 March 2026. Other foreign currencies are not subject to any restrictions.
Resident legal entities may withdraw cash in US dollars, euros, British pounds, or Japanese yen within the next six months only to cover business travel expenses within the limits established by relevant laws. There are no restrictions on other foreign currencies provided that transactions with them comply with the requirements of the Russian legislation.