Bank of Russia Extends Restrictions on Cross-Border Transfers
The Bank of Russia has extended the existing restrictions on cross-border transfers by non-residents from “unfriendly” states for another six months until 7 December 2026.
Under the extended restrictions:
- Non-resident individuals from “unfriendly” states who work in Russia may transfer abroad funds within the amount of their salary;
- Non-resident individuals from “unfriendly” states who do not work in Russia, as well as legal entities from such states, remain prohibited from transferring funds abroad. This restriction does not apply to foreign companies controlled by Russian individuals or legal entities;
- The restrictions do not apply to foreign investors transferring funds from “I” type accounts to accounts abroad in connection with their investments in the Russian financial market;
- Banks from “unfriendly” states may continue to make rouble transfers through correspondent accounts held with Russian banks, provided that both the payer’s and recipient’s accounts are held with foreign banks.
