Russia Tightens Cash Outflow Limits to Neighboring Countries
TheMoscowtimes.comPresident Vladimir Putin signed an executive order on Tuesday tightening restrictions on taking cash from Russia to neighboring countries.
Individuals are now prohibited from taking more than 1 million rubles ($11,900) in cash to Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan,
Tajikistan and Uzbekistan. Armenia, Belarus, Kazakhstan and Kyrgyzstan are members of the Russian-led Eurasian Economic Union.
Individuals had previously been allowed to move the ruble equivalent of $100,000 under an order signed by Putin in March.
In addition, businesses are banned from removing any amount of cash from the country, according to the newspaper Kommersant.
Individual violators of the new restrictions face total confiscation of any sums exceeding 1 million rubles, while businesses caught attempting to transfer funds will be forced to surrender the entire cash amount.
Exceptions apply to travelers passing through government-designated international airports, official diplomatic missions and individuals who provide bank authorization statements.
The new restrictions take effect immediately.
Russia previously banned individuals from taking more than $10,000 in foreign currency out of the country in March 2022 following the launch of its full-scale invasion of Ukraine.
