Russia Poised to Remove Limits on Foreign Currency Transfers
The Russian Central Bank announced Friday that restrictions preventing money transfers abroad will terminate December 8 for Russian nationals and citizens from countries Moscow considers friendly—a reversal of emergency measures implemented nearly three years ago.
"Given the stable situation on the foreign exchange market, from December 8, 2025, the Bank of Russia will lift previously established limits on foreign currency transfers abroad for Russian citizens and non-resident individuals from friendly countries," the bank said in a statement.
The institution carved out a narrow exception for workers from unfriendly nations employed within Russia, permitting them to remit funds equivalent to their salary amounts.
However, sweeping prohibitions remain locked in place. Individuals and non-residents from unfriendly countries without Russian employment face continued transfer bans, as do legal entities headquartered in those nations. "This restriction does not apply to foreign companies controlled by Russian legal entities or individuals."
A technical provision allows limited transactions for financial institutions from adversarial countries. "Banks from unfriendly countries can transfer funds in rubles using correspondent accounts opened in Russian credit institutions if the payer and recipient accounts are opened in foreign banks," it added.
The lifting marks a watershed moment since Western sanctions triggered the original capital controls. The Central Bank of Russia imposed the transfer restrictions in March 2022 as financial punishment escalated, capping citizens at $10,000 monthly in foreign currency movements—a threshold that strangled cross-border financial flexibility for Russian residents and businesses alike.
The relaxation suggests Moscow believes its currency markets have weathered the storm, though the selective nature of the lifting underscores ongoing economic warfare dynamics.
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