Until March 9, 2025, banks are not entitled to charge individuals a commission when issuing foreign currency cash from deposits or accounts in foreign currency.
The Bank of Russia Information letter dated September 6, 2024, states that restrictions on withdrawals of foreign currency cash to individuals and legal entities remain in place. The following restrictions will be still valid until March 9, 2025:
There are no restrictions on other currencies in case of transaction is allowed by Russian legislation.
- for foreign currency deposits and foreign currency accounts, if the account was opened before March 9, 2022, an individual can withdraw not more than 10,000 USD or the equivalent amount in Euros. The rest can still be withdrawn in rubles;
- within the next six months, banks can’t charge citizens a commission for the withdrawal of foreign currency from accounts or deposits;
- all currency transfers through e-wallets or without opening an account should be withdrawn in rubles.
- non-resident legal entities cannot withdraw cash in USD, Euro, GBP, or JPY until March 9, 2025. There are no restrictions on other currencies;
- legal entities resident of Russia can withdraw USD, Euro, GBP, or JPY from accounts in cash over the next six months only for travel expenses based on the payment standards established by the legislation.
There are no restrictions on other currencies in case of transaction is allowed by Russian legislation.
