The Bank of Russia has extended restrictions on foreign cash withdrawals for another six months, moving the end date to March 9, 2026. The decision comes in response to ongoing sanctions against Russia, which prevent Russian financial institutions from purchasing cash from Western countries.
Individuals who opened foreign currency accounts or deposits before March 9, 2022, are still permitted to withdraw foreign currency up to the balance as of midnight Moscow time on that date. However, this withdrawal is capped at $10,000 or its equivalent in euros. This limit applies regardless of the account’s original currency and only if the individual has not already used this opportunity.
“The Bank of Russia maintains foreign cash restrictions due to the sanctions enacted against Russia, which prohibit Russian financial institutions from purchasing Western countries’ cash.”
Any remaining funds beyond this limit can be withdrawn in rubles. The amount available for withdrawal is calculated based on the Bank of Russia’s exchange rate for funds credited before September 9, 2022. For funds deposited after that date, payouts are made at the exchange rate set by the bank on the day of withdrawal.
“The regulator has extended for another six months the ban on charging individuals a fee for foreign cash withdrawals from their accounts or deposits.”
Foreign funds transferred without opening an account or through electronic wallets are paid out in rubles. The payout amount is determined using the Bank of Russia’s exchange rate on the withdrawal date.
Non-resident legal entities remain unable to withdraw cash in US dollars, euros, British pounds, or Japanese yen until March 9, 2026. There are no such restrictions for other foreign currencies.
Resident legal entities may withdraw these four major currencies within the next six months but only to cover business travel expenses and within limits set by relevant laws. Other foreign currencies are unrestricted as long as transactions comply with Russian legislation.
