Bank of Russia extended restrictions on foreign currency purchase until March 2023

Until March 9, 2023, restrictions on the purchase of foreign currency remain in force: banks can sell to citizens only euros and US dollars received by their cash desks after April 9, 2022. There are no restrictions on the sale of other foreign currencies, according to the Bank of Russia.

In addition, for resident legal entities for another 6 months, from September 9, 2022, to March 9, 2023, restrictions on receiving foreign currency for travel expenses are extended - no more than 5 thousand US dollars or no more than the same amount in euro equivalent, pounds sterling, Japanese yen. These requirements do not apply to other currencies. Cash withdrawal in dollars, euros, pounds sterling and Japanese yen to legal entities - non-residents is not made, and there are no restrictions on other currencies.

The limit of 10 thousand US dollars or the same amount in euros, valid until September 9 of this year, for withdrawing cash foreign currency from a foreign currency account or deposit is also preserved. Citizens who have not yet had time to use this opportunity since March 9, 2022, can only withdraw money in foreign currency that was received on an account or deposit before March 9, 2022. The remaining funds can still be received in rubles at the market rate on the day of withdrawal. The issuance of foreign currency is carried out in US dollars or euros, regardless of the deposit or account currency.

Author: Roman Yakimchuk