Central Bank of Russia extends foreign cash withdrawal restrictions including USD 10,000 cap to 9 September 2025

The Central Bank of Russia extended for another six months the restrictions on withdrawals of foreign cash, keeping the measures in place until 9 September 2025, citing sanctions that prevent Russian banks from purchasing cash from western countries. Individuals with foreign currency accounts or deposits opened before 9 March 2022 may withdraw foreign currency up to the balance as of 00:00 Moscow time on that date, capped at USD 10,000 or the equivalent in euros, provided they have not previously used this allowance; remaining funds may be withdrawn in rubles. Ruble withdrawals must not be less than the amount calculated at the Central Bank of Russia exchange rate as of the withdrawal date for funds credited before 9 September 2022, while funds credited after 9 September 2022 are withdrawn at the exchange rate set by the bank on the withdrawal date. The regulator also extended for six months the ban on banks charging individuals fees for foreign cash withdrawals, required foreign funds transferred without opening an account or via electronic wallets to be withdrawn in rubles (not less than the amount calculated at the central bank exchange rate), and maintained limits for corporates: non-resident legal entities may not withdraw cash in US dollars, euros, British pounds, or Japanese yen until 9 September 2025, while resident legal entities may withdraw those currencies only for business trip expenses under regulatory requirements; other foreign currencies are not restricted, subject to Russian legislation.