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Bank of Russia extends restrictions on cash withdrawal until September

The Bank of Russia, taking into account the current sanctions, extended restrictions on the withdrawal of cash foreign currency for another six months, now until September 9, 2025.

Bank of Russia extends restrictions on cash withdrawal until September
07.03.2025
Lesezeit: 2 min
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📝 Summary

The Bank of Russia, taking into account the current sanctions, extended restrictions on the withdrawal of cash foreign currency for another six months, now until September 9, 2025.

As reported in the official release of the regulator, these restrictions remain due to sanctions prohibiting domestic financial institutions to purchase cash currency of Western countries. For citizens whose foreign exchange account or deposit was opened before March 9, 2022, a limit on withdrawals is set at the amount of the balance at 00:00 Moscow time of this date, but not more than 10 thousand US dollars or the equivalent amount in euros, regardless of the currency of the account or deposit. This condition applies provided that they have not previously taken advantage of this opportunity. As for other funds, they can still be obtained only in rubles. The amount paid cannot be less than that calculated on the day of payment at the official rate of the Bank of Russia for funds placed on the account until September 9, 2022. Funds placed after this date are issued at the bank rate on the day of payment, as emphasized in the information from the regulator. Also, for banks for a period of six months, the ban on charging a commission from citizens when issuing currency from accounts or deposits is extended. Currency transfers without opening an account, as well as through electronic wallets, are carried out only in rubles, and the amount issued in this format cannot be less than that calculated on the day of payment at the official rate of the Bank of Russia. In addition, non-resident legal entities are not provided for the issuance of cash in US dollars, euros, pounds sterling or Japanese yen until September 9, 2025, while other currencies are not subject to restrictions.

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