Bank of Russia to scrap some FX transfer limits
Institution to lift restrictions four months early for citizens and foreigners from “friendly countries”
Russia’s central bank is to lift a restriction limiting the amounts that citizens and non-residents can send abroad in foreign currency.
In a statement published today (December 5), the Bank of Russia announced that the limits on cross-border FX transfers would be abolished for citizens and non-residents from “friendly countries”. This is set to come into effect on December 8.
The “friendly countries” are those that have not imposed sanctions on Russia, including China, India and Brazil.
Under the
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