MOSCOW, March 7. /TASS/. The Bank of Russia has decided to extend restrictions on cash withdrawal of foreign currency for another six months, until September 9, 2025.
“The Bank of Russia has decided to extend restrictions on cash withdrawals of foreign currency for another six months, until September 9, 2025. The Bank of Russia maintains restrictions on cash currency in connection with the sanctions against our country, which prohibit domestic financial institutions from acquiring cash currency of Western countries,” the regulator said in a statement.
The Bank of Russia clarified that for citizens whose foreign currency account or deposit was opened before March 9, 2022, the limit on currency withdrawal remains in the amount of the balance of funds as of 00:00 Moscow time on the specified date, but no more than $10,000 or an equivalent amount in euro, regardless of the currency of the deposit or account, provided that they have not previously exercised this option.
The remaining funds can still be withdrawn in rubles. “The amount paid cannot be less than the amount calculated on the day of payment at the official exchange rate of the Bank of Russia for funds deposited in the account before September 9, 2022,” the press service added. Money deposited after September 9, 2022, would be withdrawn at the exchange rate of the bank on the day of issue.
For banks, the ban on charging citizens a commission when issuing foreign currency from accounts or deposits has also been maintained for six months.
Money transfers without opening an account and through electronic wallets are issued in rubles. At the same time, the issued amount cannot be less than the amount calculated on the day of payment at the official exchange rate of the Bank of Russia.
Non-resident legal entities cannot withdraw cash in US dollars, euros, pounds sterling, and Japanese yen until September 9, 2025, there are no restrictions on other currencies.
The Bank of Russia introduced restrictions on the withdrawal of foreign currency in cash in 2022. The regulator noted that the restrictions on cash currency are related to the sanctions against Russia, which prohibit domestic financial institutions to purchase cash currency of Western countries.
