The Central Bank (CB) has extended restrictions on foreign currency cash withdrawals for another six months, until March 9, 2023. This was reported in the press service of the financial regulator.
Initially, the limit of 10 thousand US dollars or euros, valid until September 9 of this year, for withdrawing cash foreign currency from an account or deposit was retained. Now the Central Bank has extended the restriction in advance for another six months from the upcoming date.
“The Bank of Russia is forced to maintain these and other restrictions on cash in connection with the current sanctions that prohibit Russian financial institutions from acquiring cash in Western countries,” the Central Bank said.
Restrictions on the purchase of foreign currency will also remain: banks can sell to Russians only euros and dollars received by their cash desks after April 9. Other foreign currency is sold without restrictions.
CB introduced euro and dollar withdrawal limit on March 9. The head of the Central Bank, Elvira Nabiullina, explained that this was due to the ban on the import of dollar and euro banknotes into the country due to sanctions. She herself believes that currency restrictions should be lifted. Many banks have introduced fees for storing currency in accounts.
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