Russias Central Bank on Monday extendedrestrictions on transferring money abroad for an additional six months, with their new expiration date set for March 31, 2025.The curbs were first introduced by President Vladimir Putin shortly after the full-scale invasion of Ukraine in February 2022, aimed at protecting Russias economy from the impacts of Western sanctions.Under the restrictions, individuals and companies fromso-calledunfriendly countries those that have sanctioned Russia are prohibited from transferring funds abroad.
However, the restrictions do not apply to foreign companies controlled by Russian legal entities or individuals, according to the Central Bank.Lenders from unfriendly countries are restricted to transferring funds only in Russian rubles within Russian banks.At the same time, Russian citizens and non-residents fromso-calledfriendly countries can still transfer up to $1 million per month, including in foreign currencies, to foreign banks.
A separate monthly limit of $10,000 applies to money transfer systems, according to the Central Bank.The renewed restrictions take effect on Oct.
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