The Bank of Russia announced it will extend restrictions on cross-border transfers from brokerage and trust management accounts for non-residents from countries considered “unfriendly” by the Russian government. The suspension, which affects both individuals and legal entities with accounts at Russian brokers and trust managers, will continue for another six months starting October 1, 2025. These measures have been in place since April 1, 2022.
According to an executive order from the President of the Russian Federation, the restrictions do not apply to foreign investors or foreign persons acting on their behalf regarding repatriation of funds recorded in In-type accounts with Russian brokers and trust managers that are invested in the Russian financial market.
The Bank of Russia stated: “This decision has been made to maintain financial stability.”
