Bbabo NET

Economics & Business News

Russia - Central Bank temporarily bans foreigners from withdrawing money abroad

Russia (bbabo.net), - The Bank of Russia has suspended transfers of foreign legal entities and individuals from a number of countries from Russian accounts to foreign accounts as a temporary measure. This was reported to journalists in the press service of the Central Bank.

"In order to prevent the withdrawal of funds from the Russian financial market and to maintain financial stability, the Bank of Russia has temporarily suspended transfers from the accounts of non-residents of legal entities and individuals from a number of countries to accounts abroad. In addition, transfers for non-residents without opening an account are limited to 5 thousand dollars or in this equivalent per month," the Central Bank said in a statement.

The Bank of Russia clarified that the restrictions imposed will not affect Russian citizens and the vast majority of citizens from the CIS countries.

Earlier it became known that against the backdrop of the imposition of sanctions against Russia by Western countries and high volatility in the Russian currency and stock markets, from March 1, Russian companies and citizens cannot transfer foreign currency to their own accounts abroad, it is impossible to conduct currency transactions with electronic wallets, and with On March 2, more than 10 thousand dollars cannot be taken out of Russia in cash.

Russia - Central Bank temporarily bans foreigners from withdrawing money abroad