Bank of Russia eased restrictions on transfers abroad for citizens

The Bank of Russia has set new thresholds for the amount of money transfers abroad for citizens for the next six months. Within a calendar month, individuals can transfer outside the Russian Federation from their account in a Russian bank to their account or another individual abroad no more than 10 thousand US dollars or the equivalent in another currency. Through companies providing money transfer services without opening an account, you can transfer no more than 5 thousand US dollars per month or the equivalent in another currency.

As noted in the message of the Central Bank, the rules apply to residents and non-residents from countries that do not support sanctions. The same opportunity was given to non-residents from all other states working in Russia under labor or civil law contracts.

At the same time, transfers abroad from bank accounts of non-residents - individuals from countries that support sanctions and do not work in Russia, as well as legal entities from these states - have been suspended for six months. For the same period, transfers abroad of funds of individuals and legal entities - non-residents from countries that support sanctions, from the accounts of Russian brokers, were suspended.

Transfer amounts are calculated at the official exchange rate of foreign currencies against the ruble established by the Bank of Russia on the date of the transfer instruction.