The Bank of Russia has extended the restrictions on transferring funds abroad for another 6 months.

They will take effect from October 1, 2024, until March 31, 2025, inclusive.

Citizens of Russia and individual non-residents from friendly countries will still be able to transfer up to 1 million US dollars or the equivalent in another foreign currency to any accounts in foreign banks within a month.

Limits on transfers through remittance systems remain in place — no more than 10,000 US dollars or the equivalent in another foreign currency per month. The amounts of transfers are determined by the official exchange rate of foreign currencies against the ruble on the date the bank receives the transaction order.

Individual non-residents working in Russia can transfer abroad an amount equivalent to their salary. This right is available to representatives from both friendly and unfriendly countries.

The ban on transferring funds abroad for non-working individual non-residents from unfriendly countries, as well as for legal entities from such states, remains in effect. This restriction does not apply to foreign companies that are under the control of Russian legal or natural persons.

Banks from unfriendly states can carry out transfers of funds in rubles using correspondent accounts opened in Russian credit organizations if the accounts of the payer and the recipient are held in foreign banks.