Central Bank Extends Foreign Cash Withdrawal Limits to 2027
The Central Bank of Russia extended restrictions on withdrawing foreign currency cash until March 9, 2027, maintaining a limit of $10,000 or equivalent for individuals with accounts opened before March 9, 2022. The measures are due to Western sanctions preventing Russian financial institutions from purchasing foreign cash.
Consensus
- The Central Bank of Russia extended restrictions on cash withdrawal of foreign currency until March 9, 2027.
- The restrictions apply to individuals with foreign currency accounts or deposits opened before March 9, 202₂.
- The limit on cash withdrawal is capped at $10,000 USD or equivalent in euros, based on the balance as of March 9, 2022.
- The measures are due to Western sanctions that prohibit Russian financial institutions from purchasing foreign currency cash.
- Any remaining funds above the limit are converted into rubles.
- Withdrawals of foreign currency cash are not allowed for non-resident legal entities.
- For resident legal entities, foreign currency can only be withdrawn for business travel expenses.
- Banks are prohibited from charging fees for issuing foreign currency cash.
- Currency transfers without opening an account and funds from electronic wallets are issued in rubles.
- The limit applies regardless of the currency of the account or deposit.
Points of divergence
- The Central Bank of Russia extended the restrictions until September 9, 2026, not March 9, 2027. — tg_tass_agency
- The Central Bank of Russia stated that the restrictions are maintained due to sanctions preventing Russian financial institutions from acquiring foreign currency cash. — vm
- For legal entities that are non-residents, the withdrawal of dollars, euros, pounds, and yen is prohibited until March 9, 2027. — vedomosti
- On May 19, Deputy Finance Minister Alexei Moiseev proposed gold bars as an alternative to holding foreign currency cash, noting low liquidity as a barrier. — vm
- Funds placed on accounts before September 9, 2022, are issued at the Central Bank's official exchange rate on the day of payment, while funds placed after that date are issued at the bank's rate. — vedomosti
Coverage (12 sources)
- Central Bank extended limits on cash currency withdrawal until March 2027 — Фонтанка
- Central Bank extended existing limits on cash withdrawal of foreign currency for another six months — until March 9, 2027... — Первый Московский
- Central Bank of Russia extended cash withdrawal limits for foreign currency by another six months — Вечерняя Москва
- Central Bank keeps limits on withdrawal of foreign cash until March 9, 2027 — Дождь
- Central Bank keeps limits on cash withdrawal of foreign currency until March 9, 2027 — Дождь (Telegram)
- Central Bank extended restrictions on cash currency issuance until March 9, 2027 — Ведомости
- Central Bank of Russia kept cash currency withdrawal restrictions for another six months — Интерфакс
- Central Bank of Russia maintains restrictions on cash withdrawal of foreign currency until March 9, 2027 — ASTRA
- Central Bank of Russia extended restrictions on withdrawing foreign currency cash by another six months, until September 9, 2026. — ТАСС (Telegram)
- Central Bank extended restrictions on cash currency withdrawal for another six months — Вести
- Central Bank of Russia extended cash withdrawal limits for foreign currency by another six months, until March 9, 2027 — Московский кэш
- Central Bank extended currency withdrawal restrictions for six months — Коммерсантъ