The Central Bank has extended restrictions on money transfers abroad for another six months.

On March 21, the Central Bank of Russia extended restrictions on transfers of funds abroad for citizens for six months. This was reported by the press service of the regulator.

It is indicated that the restrictive measures will be in effect until September 30, 2025 inclusive.

"Russian citizens and non—resident individuals from friendly countries will still be able to transfer no more than $1 million to any accounts in foreign banks within a month," the statement said.

The limit on transfers within the framework of money transfer systems will also continue to remain at the level of $10,000 per month.

In addition, a complete ban on transfers for legal entities from unfriendly countries, as well as non—resident individuals from such countries who do not work in the territory of the Russian Federation, will continue to apply. An exception is made only for foreign companies controlled by persons from Russia.

"Non—resident individuals working in Russia can transfer funds abroad in the amount of wages. Representatives of both friendly and unfriendly countries have this right," the press service of the Bank of Russia added.

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In March, the record rate of 21% was maintained, but the Bank of Russia has already cautiously noted positive developments.

Earlier, on March 7, the Central Bank also extended restrictions on foreign currency cash withdrawals for six months. The restrictions were maintained due to the current anti-Russian sanctions prohibiting domestic financial institutions from buying foreign currency in cash.