For banks, a ban is extended for six months to charge a commission from citizens when issuing a currency from accounts or deposits.
Today, the Bank of Russia announced the decision to preserve the restriction on cash currency until the ninth of March 2025, the correspondent of The Moscow Post reports with reference to The official website of the regulator.
The regulator’s website says: “The rest of the funds can still be obtained in rubles. The amount paid cannot be less than the payment of the Bank of Russia for the funds for the funds placed on the account until September 9, 2022,” the Central Bank said.
Note that the funds placed after September 9, 2022 are issued at the bank rate on the date of issue.
Until March 9, 2025, foreign exchange operations for legal entities will be limited: they will not be able to withdraw cash in US dollars, euros, pounds of sterling and Japanese yen.
Other foreign currencies are left without restrictions. Resident legal entities will be able to receive cash in these currencies within six months, but only to cover travel expenses. The restrictions on the withdrawal and sale of currency were introduced by the Central Bank on March 9, 2022.
The head of the regulator Elvira Nabiullina explained that this is due to the ban on the import of dollars and euros introduced in Russia as part of the sanctions. The last time these measures were extended in March of this year.
