The Central Bank of Russia (CBR) has extended the restrictions on cash withdrawals of foreign currency for another six months, until 9 March 2025. The decision follows due to current sanctions against Russia which prevent domestic financial institutions from purchasing the foreign currencies.
According to a statement by CBR on 6 September, up to USD 10,000 or the equivalent in EUR can be withdrawn from a bank account. However, only funds deposited in USD or EUR before 9 March 2022 are eligible for withdrawal. Remaining funds may be withdrawn in RUB.
The CBR has also extended the ban on banks charging citizens a commission for withdrawing foreign currency from accounts or deposits.
Non-resident legal entities continue to be prohibited from receiving cash in USD, EUR, GBP, and JYP. However, there are no limitations on the acceptance of other currencies
Russian companies are allowed to receive cash in USD, EUR, GBP, and JYP solely for travel-related expenses, adhering to the payment standards set forth by applicable legislation. Transactions involving other currencies are unrestricted, provided they align with the stipulations of Russian law.
